Over the last few years, when everyone got caught up in “recession fever”, it definitely felt like the nation was in the midst of a “stay put” mind set. However, is this factual, or do we all get influenced by what we read in the papers too much?
For our area (the South East) the average asking price for a property currently is £367,362. There are over 393,000 properties in the area currently for sale, with around 138,000 properties sold in the last year. 186,000 properties are available to rent, with the average rent being £1938 pcm. To your average person, these figures appear high, but we have to bear in mind that the South East covers some fairly affluent areas.
However, when we looked specifically at our own geographical location (Dartford) the figures were still strong, properties ranging from £128k for a one bed flat through to £676k for a 5 bedroom property, yet there are only 260 properties available for sale currently.
People are buying and selling, but moves are happening quickly. Houses are going on the market and being snapped up, often with offers over the asking price to secure the deal.
Yet this knowledge alone does mean that unless it’s an essential move, people are more likely to be inclined to wait it out in their current property than jump into a fast paced market that may mean they pay over the odds for little choice. If there’s a chance that they can maximise their current space, whilst potentially increasing the value of their property at the same time, many people will head down this path.
Extending upwards, with a loft conversion, or converting downwards, with a basement conversion are extremely popular choices at the moment. Extensions as a whole have never lost popularity, if there’s space to the side, rear or front of your property which will allow you to grow your family home, then to be honest, you’d be crazy not too.
There’s also been more of a move towards adding in an additional area in the form of a garden room. Not necessarily a structure that’s attached to your existing property, but a stand alone room that can be used for a multitude of functions – office, studio, gym, kids room. This gives home owners the opportunity to make use of redundant garden areas without the necessity for masses of building work.
It’s definitely a mixed bag of movers and improvers, but it certainly feels like both the relevant trades and the DIY enthusiasts are more positive about the current economic climate. There’s work to be done, but people are starting to do it, knowing they can pay for it – whether they’re employing a suitable professional or taking on projects themselves.
At Forestrall we’re ready and waiting to take orders from the building trade and the general public, so don’t hesitate to call if you need materials that we can supply. You can browse our products online, download our PDF Price List, order a hard copy Price List, email us at firstname.lastname@example.org or call Simon, Sam, Jemma, Kevin or Ryan in the sales team on 01474 444150.
You can read more from us in our timber blog here.