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Building boom
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Shane



Joined: 31 Oct 2005
Posts: 3467
Location: Doha. Is hot.
PostPosted: Wed Mar 28, 12 3:51 am    Post subject: Reply with quote
    

I was under the impression that people tended to spend money on extending their own house when they couldn't afford to move - hence, when people in general are being squeezed, you see more renovations and less house purchases.

Rob R



Joined: 28 Oct 2004
Posts: 31902
Location: York
PostPosted: Wed Mar 28, 12 8:51 am    Post subject: Reply with quote
    

Shane wrote:
I was under the impression that people tended to spend money on extending their own house when they couldn't afford to move - hence, when people in general are being squeezed, you see more renovations and less house purchases.


I'd like to explain it that way but both these examples are massive houses already, with middle class occupants, mid-fifties to early sixties, one a couple, the other a couple with a teenage son. All nice people, not horrible property barons, but just... wow, not short of cash.

chicken feed



Joined: 27 Aug 2009
Posts: 2677

PostPosted: Wed Mar 28, 12 9:05 am    Post subject: Reply with quote
    

Rob R wrote:
Shane wrote:
I was under the impression that people tended to spend money on extending their own house when they couldn't afford to move - hence, when people in general are being squeezed, you see more renovations and less house purchases.


I'd like to explain it that way but both these examples are massive houses already, with middle class occupants, mid-fifties to early sixties, one a couple, the other a couple with a teenage son. All nice people, not horrible property barons, but just... wow, not short of cash.


this is and always has been the main stay of our work since the 1980's it could just be by that age you are settled where you are and just want to make your living space just the way you want it. moneys making nothing in the bank so spend it way of thinking atm is what we are seeing more and more of.

sean
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 42207
Location: North Devon
PostPosted: Wed Mar 28, 12 11:25 am    Post subject: Reply with quote
    

Plus if you've got a decent amount of equity it's very cheap to borrow at the moment.

Shane



Joined: 31 Oct 2005
Posts: 3467
Location: Doha. Is hot.
PostPosted: Wed Mar 28, 12 11:32 am    Post subject: Reply with quote
    

chicken feed wrote:
moneys making nothing in the bank
Makes less than that out here - there was an ad in this morning's paper about a high-interest savings account offering a whacking 2% interest right next to an article about how the official rate of inflation is currently sitting at 4%

Mind you, anyone that leaves a significant sum of money sitting around locally needs their head examined anyway!

Rob R



Joined: 28 Oct 2004
Posts: 31902
Location: York
PostPosted: Wed Mar 28, 12 11:36 am    Post subject: Reply with quote
    

I guess we've got George Osbourne to blame for this.

dpack



Joined: 02 Jul 2005
Posts: 45374
Location: yes
PostPosted: Wed Mar 28, 12 9:06 pm    Post subject: Reply with quote
    

he may be a tory but the family firm do make nice wallpaper

https://www.osborneandlittle.com/

Tavascarow



Joined: 06 Aug 2006
Posts: 8407
Location: South Cornwall
PostPosted: Wed Mar 28, 12 9:42 pm    Post subject: Reply with quote
    

A 5,000 home development over three sites.
Which will double the population of the local town, to be built over the next twenty years.
Currently on hold because the County Council planning strategy is under judicial review.
But will no doubt be resubmitted when that's past.
It's why I'm laughing at what has been dubbed the pasty war.
More people are upset that their pasty is going up in price than the fact the local environment, both human & natural, could change drastically in the near future.

Croatia Keith



Joined: 27 Mar 2012
Posts: 23
Location: Croatia
PostPosted: Sun Apr 08, 12 12:44 pm    Post subject: Reply with quote
    

onemanband, what part of Hertfordshire are you from?

St Albans & Welwyn were our old areas and talking to contacts still in the construction buisness around that way they are just about keeping their heads above water.

OK there is work to pay the wages etc but not much if any profit. A good time for investors I guess.

dpack



Joined: 02 Jul 2005
Posts: 45374
Location: yes
PostPosted: Sun Apr 08, 12 1:25 pm    Post subject: Reply with quote
    

Rob R wrote:
Shane wrote:
I was under the impression that people tended to spend money on extending their own house when they couldn't afford to move - hence, when people in general are being squeezed, you see more renovations and less house purchases.


I'd like to explain it that way but both these examples are massive houses already, with middle class occupants, mid-fifties to early sixties, one a couple, the other a couple with a teenage son. All nice people, not horrible property barons, but just... wow, not short of cash.


early retirement payouts .redundancy payments .etc ?

bigpaul



Joined: 06 Mar 2012
Posts: 62
Location: North West Devon
PostPosted: Sun Apr 08, 12 4:38 pm    Post subject: Reply with quote
    

very quiet in north devon, house on corner having some underpinning done, thats it and thats on a housing estate of about 200 houses.

Rob R



Joined: 28 Oct 2004
Posts: 31902
Location: York
PostPosted: Sun Apr 08, 12 4:41 pm    Post subject: Reply with quote
    

dpack wrote:
Rob R wrote:
Shane wrote:
I was under the impression that people tended to spend money on extending their own house when they couldn't afford to move - hence, when people in general are being squeezed, you see more renovations and less house purchases.


I'd like to explain it that way but both these examples are massive houses already, with middle class occupants, mid-fifties to early sixties, one a couple, the other a couple with a teenage son. All nice people, not horrible property barons, but just... wow, not short of cash.


early retirement payouts .redundancy payments .etc ?


Nope, one is one of the owners of the golf club (who found out it was easier to knock down & start again than extend) & the other just keeps building a bit more on.

john of wessex



Joined: 18 Jun 2007
Posts: 2130

PostPosted: Sun Apr 08, 12 8:17 pm    Post subject: Reply with quote
    

I think becaus it isnt easy to move at the moment people are getting the builders in rather than the estate agents

dpack



Joined: 02 Jul 2005
Posts: 45374
Location: yes
PostPosted: Sun Apr 08, 12 9:59 pm    Post subject: Reply with quote
    

there is money about but im not sure about a building boom

a building sigh maybe

jema
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 28098
Location: escaped from Swindon
PostPosted: Sun Apr 08, 12 11:47 pm    Post subject: Reply with quote
    

It may also be the case that if you have the dosh, just where are you going to put it right now?
No point in a savings account, the stock market is hardly attractive, and few people have serious enough dosh to do buy to let, even if they would want to.
So extensions are at least a way of doing something safe with money.

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