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OnlyMe

Diy'less Recovery

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Some ******** from a bankrupt bank rep and then a little bit of truth.

http://www.bridgingandcommercial.co.uk/newsstory?id=1716&type=newsfeature&title=homeowners_give_up_on_improvements

Homeowners give up on improvements

Tuesday 28th June 2011

Consumer spending on DIY in 2010 was at its lowest level since 1998, signalling a possible decline in the quality of British houses.

...

However, Housing economist Suren Thiu remained optimistic about the future of the housing market. He told the Daily Mail: “The current squeeze on household finances from high inflation and weak earnings growth has made it difficult for many households to spend as much as they used to on discretionary items such as home maintenance.

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There's different sort of DIY, property maintenance, which when done lasts for years and pimping DIY where you try and boost the value of your home by following the latest fad.

Pimping is dead, property maintenance is essential but mostly will be a one off expense. The DIY chains are going to struggle on property maintenance, they have too many stores. There whole business model is based on the majority pimping their house.

Whilst I still have the free cash I'm busy doing all the jobs I've not done for a few years. However once these are done hopefully many won't need doing again for 20+ years.

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you're jsut not getting how this ponzi works are you irro?

you pimp your house and then my pension stays afloat.

We've put new doors on, but those needed replacing. I've painted the piece of wood with the house numbers on and bought shiny new brass numbers from Wilkinson's as the plastic ones looked tatty and naff.

The house has been hugely pimped up. :lol::lol:

The other problem with pimping now is that you might blow £20k and get no return.

Edited by interestrateripoff

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...it's not just DIY that's wilting ...it's the 'get other people to do it' like Moben Kitchens, Sharps and Dolphin Showers Group....the previous owners sold out to a US investment company in March 2007...astute timing.... :rolleyes:

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Apart from lack of disposable, I would have thought most diy is done in the months after a move. With transactions running at about half 'normal levels' for so long, diy chains must be starting to think this has become a permanent state of affairs and need to cut cloth/capacity accordingly.

(not just diy, anything related to that house move really)

I am a very keen DIYer.

Though entirely anecdotal and based on observations in a relatively well off part of the south east my regular trips to

The local hardware store

Homebase

The timber merchant's

Do not seem to be lonely affairs. Plenty of people buying all sorts of stuff.

I would have thought the "changing rooms" effect would soon kick in shortly. A show that died pretty much as soon as the boom took off and money was easy and you could just pay for stuff out of equity.

It will be MDF pelmets as far as the eye can see pretty soon.

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And Carpetright's profits are down 70%:

Carpetright, the company regarded as a bellwether for the domestic economy, reported a 70pc fall in full-year profits as struggling consumers cut spending on carpets and flooring and said it will not pay a final dividend.

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8602387/Carpetright-profits-tumble-70pc-as-consumers-cut-back.html

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He expects things to be rubbish for the next year too....

Lord Harris, the chairman and chief executive, said of the challenging trading conditions: "I expected consumer demand to remain subdued in the coming year and this indeed proved to be the case ... Looking forward, I see no respite from the challenging environment over the next year."

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The latest fad is the "feature wall". 3 plain walls, with a flowery/LLB expemsive wallpaper on the 4th.

Don't forget twiggs in vases, laminate flooring, magnolia walls.

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The local independent carpet shop I use seems busy enough, the fittings board was chocker when I paid the deposit on our next purchase.

That said, he typically quotes a lot less than Carpetright.

Edited by mitchbux

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The latest fad is the "feature wall". 3 plain walls, with a flowery/LLB expemsive wallpaper on the 4th.

Don't forget twiggs in vases, laminate flooring, magnolia walls.

Guilty as charged on the first count, currently in bother for taking a liking to one costing £36 a roll!! In my defence, we only need one roll, it is not flowery or by LLB, and it'll be me hanging the damn stuff.

I can be acquitted of all the other charges.

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  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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