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Research confirms the flooring market is improving

Recently published market research suggests that the laminate market has seen a rise for the first time in several years.

A renewed surge in house prices has positively, though modestly, influenced growth in the sector, with market value rising by 1% over 2013. Forecasters suggest that government schemes aimed at stimulating home ownership will also benefit the domestic sector, though this growth is likely to be at a more moderate pace than in recent years.

It was also found that between the 1990s and 2007, the wood floor covering market saw rapid growth driven by laminate flooring. The market remained volatile when compared to other solid and engineered woods, and even with a 58% share of the market, laminate flooring saw a sharper decline during the recession. Solid and engineered flooring outperformed laminate for seven years up until 2011 and declined less rapidly, so the return to growth of the laminate market is seen as an encouraging sign.

Wood flooring is estimated to have had 16% of the market share throughout the UK in 2012,. Whilst this is an increase on its 2011 low, it is still lower overall than before the beginning of the financial hardships – achieving its peak of £385 million in 2007.

Some of the decline has been offset by the sale of superior products in the area of laminate flooring. Liverpool homeowners, and indeed homeowners across the country, are seeing the traditionally poor value market – one that generally preferred value for money over quality – transformed into a strong sector that now deals with a much higher quality product whilst retaining its cost-effectiveness.

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