We have had some pretty good news over the last few days out of the housing market, with many bodies saying that the housing market is showing signs of life again. Prices are on the up, mortgage approvals are up, which means money is starting to flow back into the system.
This is great news for first time buyers like myself. But this should also be very good news for our industry, as like I myself am doing, new homeowners will probably be looking to make changes to their new purchase.
Hopefully, this will mean new windows and doors as part of the refurbishment. It is widely accepted that new windows and doors are part of three major upgrades to house, with the others being central heating and insulation. I’m hoping that a nice robust and prolonged recovery over the next few years will help boost the fenestration industry.
Who exactly is going to benefit from a boost to the housing market? Well, unfortunately, I think the cheap and cheerful companies are going to see the brunt of boost. The likely scenario will be that when a first time buyer or someone just moving in wants to replace their windows and doors, they probably won’t have a big budget to spend. They will probably want to make tweaks to the kitchen, bathroom and probably other things too. High-end windows and doors may not be the highest priority on the list. So for those of us at the “value” end of the sector, this is good news.
Either way, if the housing market gets moving properly and provides a boost to our industry in due course, this isn’t to be sniffed at.