Jump to content
House Price Crash Forum
Sign in to follow this  
Guest muttley

Diy Economy

Recommended Posts

There is just so much wrong with that article.

The most popular television inspired home improvement was painting a room! Gah.

What did people do before these programmes? Perhaps they sat looking at their dated faded walls in desperation - "it's magnolia, I hate it, what should I do?"

Share this post


Link to post
Share on other sites

Where theres wonky timber, theres brass. I had a large studio flat 10years ago so I bunged a stud wall up to make it a 1 bedroom and it went up in value by 10k overnight (about 30%) minus about 1500 for materials and paying off the freeholder. Nice! Just shouldn't have sold it in 2001. :huh:

Share this post


Link to post
Share on other sites

Homes now represent 50% of the net worth of the UK economy, from less than 18% before 1996.

People should be given grants from the government to buy paint, polyfiller and hanging baskets. I calculate that a £100 spent on paint in neutral tones, and bodging up all the walls, would boost an average homes value by £1000.

This would therefore increase the total wealth of the UK economy by nearly 0.5%! Why stop there? We can paint our way to a properoius new future.

Share this post


Link to post
Share on other sites
Guest muttley

Homes now represent 50% of the net worth of the UK economy, from less than 18% before 1996.

People should be given grants from the government to buy paint, polyfiller and hanging baskets. I calculate that a £100 spent on paint in neutral tones, and bodging up all the walls, would boost an average homes value by £1000.

This would therefore increase the total wealth of the UK economy by nearly 0.5%! Why stop there? We can paint our way to a properoius new future.

:lol:

What we need is a Minister for the Interior Decorator.

Share this post


Link to post
Share on other sites

At least The Guardian has the sense to print

© Copyright Press Association Ltd 2005, All Rights Reserved.

so we can see it's not news of any description, but a verbatim press release, from a home insurance company (no doubt wishing to remind policy owners that they have to protect their valuable property) rubber stamped by the PA.

Yaawn.

Share this post


Link to post
Share on other sites

There is just so much wrong with that article.

The most popular television inspired home improvement was painting a room! Gah.

What did people do before these programmes? Perhaps they sat looking at their dated faded walls in desperation - "it's magnolia, I hate it, what should I do?"

Agree that the whole tone is a bit glib, but it's an interesting article nonetheless in that at least it attempts to unbundle irrational price increases from those price increases driven by CapEx... a question I posed in an earlier thread, although it seemed that the only responses I received were bear VI- and invective-driven.

ab

Share this post


Link to post
Share on other sites

Agree that the whole tone is a bit glib, but it's an interesting article nonetheless in that at least it attempts to unbundle irrational price increases from those price increases driven by CapEx... a question I posed in an earlier thread, although it seemed that the only responses I received were bear VI- and invective-driven.

ab

Most of the article covers what I would class as repairs and maintenance. I should think that this has been going on for ever; the main change is probably that much of the work is now done by amateurs (DIY) rather than professional trade’s men.

My first thought is that considering CapEx driven increases would be a distraction to the main causes for price increases.

Share this post


Link to post
Share on other sites

Most of the article covers what I would class as repairs and maintenance. I should think that this has been going on for ever; the main change is probably that much of the work is now done by amateurs (DIY) rather than professional trade’s men.

My first thought is that considering CapEx driven increases would be a distraction to the main causes for price increases.

Hmm... looking at the breakdown of costs on programmes like the Property Ladder, it would seem that CapEx (including cost of labour) is often a significant component of value increases. Admittedly, this is often for projects at the more significant end of the spectrum rather than adding a coat of paint, but an this is potentially an underestimated proportion of the increase in value of cheaper houses nevertheless.

Share this post


Link to post
Share on other sites

Hmm... looking at the breakdown of costs on programmes like the Property Ladder, it would seem that CapEx (including cost of labour) is often a significant component of value increases. Admittedly, this is often for projects at the more significant end of the spectrum rather than adding a coat of paint, but an this is potentially an underestimated proportion of the increase in value of cheaper houses nevertheless.

Most of the work seems to be to "make good the property". Places are brought because they are run down and value can be added by doing the work others are unwilling to do. I concede though that if more of this activity takes place than the historical average then the value of the total housing stock could reflect this.

If you put some spotlights in, sanded down the floorboards and painted everything cream you would not be a property developer in my opinion you are a decorator. It's easy to call yourself a developer in house market where prices are rising.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.