Design Buy Build Issue 31 2018 - Page 4

Industry News Momentum still soft to start the year Ni Home Owners Would Splash £64k On Home Refurbs If They Had Confidence In Building Industry Northern Irish home owners would invest home owners in Northern Ireland are so £64,000 on home improvement work fearful about the possibility of working The January 2018 RICS UK Residential over the next five years if they had full with a bad builder, they don’t commission Market Survey results show the year starting confidence in their ability to identify a any building work whatsoever. The FMB’s o in a very similar vein to the closing stages professional builder, according to new latest research shows that on average, your of 2017. research by the Federation of Master typical home owner in Northern Ireland Builders (FMB) Northern Ireland. would spend £64,000 on major home New buyer enquiries, instructions and sales improvement projects over the next five all continue to drift lower (in net balance Key results from the FMB’s research into years if they knew they would be dealing terms), while near term expectations point to consumer confidence in builders include: with an honest builder. What’s more, a at outturn for activity in the coming months. • More than one quarter (26%) of Having said that, there is a little more optimism Northern Irish home owners are put regarding the twelve month sales outlook off doing major home improvement which is now at least modestly positive in works requiring a builder because virtually all parts of the country. they fear hiring a dodgy builder; For a tenth month in succession, new buyer • If all Northern Irish home owners enquiries declined at the headline level, with a had full confidence in the building net balance of -11% of respondents reporting industry, they would typically spend a fall. an average of £64,000 on major home improvement projects over the Similarly, newly agreed sales also slipped, next five years. This compares to an extending a run of negative readings for this average of £67,000 per home owner indicator stretching back to last February. over the next five years in London; Going forward, a relatively stable sales trend • The UK economy as a whole is is expected to emerge in the near term, while missing out on £10 billion of activity respondents envisage sales picking- up over per year because of anxiety over the next twelve months as a whole, albeit the cowboy builders. out on more than £10 billion of activity every year because of fears surrounding cowboy builders. This latest research goes to show how cowboy builders and rogue tradespeople strike fear into the hearts, and the pockets, of consumers.” McGuire concluded: “In order to address this, the UK Government should explore the possibility of introducing a mandatory licensing system for domestic builders so consumers can rest assured that they’re operating to a decent standard. At the moment, anyone can set themselves up as a builder and that’s how we’ve managed to allow a small proportion of dodgy firms to give the whole construction industry a bad name. A licensing system could help ensure all builders have certain knowledge net balance of +33% is relatively modest when viewed in a historical context. the UK-wide economy could be missing Gavin McGuire, Director of FMB Northern and skills, and conduct themselves in a Ireland, said: “More than one quarter of professional manner. New research illustrates [\ܝ[HوUBܚ\[Z[[H[x&\Y\] H[ HHXYHYHZ[\Y\][ۈ\\YY]H\^Hو Mܚ\ۈݙ\H\[ LL Hو]Y[X\&H]\ˈ]]X[΂(BNKHوܚ\ۈ\HZ[[]\XܛH[H\B&ۈR&B^]X\[YX\\[X[Y[\H\]ݙ\Y[\[\]’\XZ[\[[[\HX][H[X[ۈܙZYۈX\[[(H MHوܚ\ۈۙۈ]\\HHݙ\X\¸(Hݙ\ H[ Hوܚ\[HH\HHݙ\X\¸(H MˎIHوܚ\[HX\و[[[ L IH[H›YY۝[YYX\[YUHܚ\^][]\\HHݙ\X\Hݙ\Y[8&\\[\][^[]H][\وH8(H[[ܚ\K[X\\ K H\HۈR KIH[HܚٛܘHˈ8(H MIHوX^Y\\HۋURܚ\  IH[ۙۊB(HۈRܚ\[H[[\]\\H Hݙ\ L