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Shane

Joined: 31 Oct 2005
Posts: 3467
Location: Doha. Is hot.

Posted: Wed Mar 28, 12 3:51 am Post subject:
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

Posted: Wed Mar 28, 12 8:51 am Post subject:

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

Posted: Wed Mar 28, 12 9:05 am Post subject:

Rob R wrote:

Shane wrote:

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: 42219
Location: North Devon

Posted: Wed Mar 28, 12 11:25 am Post subject:
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.

Posted: Wed Mar 28, 12 11:32 am Post subject:

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

Posted: Wed Mar 28, 12 11:36 am Post subject:
I guess we've got George Osbourne to blame for this.

dpack

Joined: 02 Jul 2005
Posts: 46211
Location: yes

Posted: Wed Mar 28, 12 9:06 pm Post subject:
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

Posted: Wed Mar 28, 12 9:42 pm Post subject:

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

Posted: Sun Apr 08, 12 12:44 pm Post subject:
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: 46211
Location: yes

Posted: Sun Apr 08, 12 1:25 pm Post subject:

Rob R wrote:

Shane wrote:

early retirement payouts .redundancy payments .etc ?

bigpaul

Joined: 06 Mar 2012
Posts: 62
Location: North West Devon

Posted: Sun Apr 08, 12 4:38 pm Post subject:
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

Posted: Sun Apr 08, 12 4:41 pm Post subject:

dpack wrote:

Rob R wrote:

Shane wrote:

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

Posted: Sun Apr 08, 12 8:17 pm Post subject:
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: 46211
Location: yes

Posted: Sun Apr 08, 12 9:59 pm Post subject:
there is money about but im not sure about a building boom a building sigh maybe

jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28234
Location: escaped from Swindon

Posted: Sun Apr 08, 12 11:47 pm Post subject:
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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