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Housing market recovery may help the DIY sector

Though at times controversial, some of the coalition government’s policies, such as the Help to Buy scheme – aimed at reigniting the housing market – have been showing early signs of success. Recent statistics from the forecasters EY Item Club suggest that the sector will have grown 6.3% by 2015.

This will no doubt be welcome news to industries looking to both sell houses, as well as those looking to help the great British public to improve their current residence. It is exciting news for the retail sector, as people will take advantage of their increased spending power and may use this to purchase home improvements.

The British Retail Consortium suggests that over the last month, DIY and home improvement has increased. It is hoped that as the larger expenditures, such as houses, are beginning to move, the retail sector will see fringe benefits across the UK – whether it is people building conservatories in Cumbria or laying laminate flooring in Liverpool.

It is not expected to happen overnight. In fact, experts are predicting that the real time difference won’t be felt in the sector until 2014. Even more encouraging for the home-improvement sector is that home-owners are less keen on the DIY option – preferring instead to rely on tradesmen to make the improvements and to complete the larger jobs. It is thought that this is because Brits are more time restricted than they were in the past.

If the housing price surge continues as a long term trend, then the money that consumers have saved on deposits, and continue to save on rent, could find itself flooding into the retail and DIY sector.

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