Before coronavirus, the news was inundated with media coverage of the UK leaving the European Union. This choice will impact many industries, including domestic construction. Brexit discussions have been ongoing for the past three years, with an ‘official’ leave date of the 31st January 2020. However, new regulations and restrictions will come into place at the start of January 2021 which will affect the general population. The whole narrative of will-it won’t-it surrounding Brexit and a no-deal Brexit, has left the property market in a state of confusion.
In the property market, Brexit has meant that residents in London have been wary about moving to a new house. This has also meant that the domestic construction industry has slowed too, with many London residents being unsure as to whether to invest in their property. There were reports of property asking prices dropping by 0.2%, but with a 6% increase in sales – statistics and reports which have left the majority confused.
Amongst the uncertainty surrounding property prices, the market has also changed drastically with the arrival of coronavirus. Millions of professionals being made to work from home has caused an influx in home renovation projects, with people wanting to rejuvenate their home or gain new space. All in all, it has been a rollercoaster couple of years for everyone, in every industry, including construction.
As the future of Brexit has become more certain, the housing market has settled somewhat, making it a great time to do work on your property. If you are looking for more space a home extension or loft conversion can be the best way to add space and value to your property. With the financial repercussions being severe on many professions, it could be that selling your property and up-sizing simply isn’t an option anymore. An alternative you could now consider is revamping your home and rejuvenating lost and unused space.
The best quality of investing in your home, is that it buys you time to wait until the housing market settles again. It is also labelled as an investment, because you will see return for your money by investing money into your property now and selling it at a later point.
We have a dedicated team of knowledgeable surveyors, who can design a home renovation which suits your needs and budgets. Whether you live in London, the Midlands or Birmingham, Simply Extend can cater to your home extension needs. Give us a call on 0800 917 7571 or fill out an online enquiry form now, to arrange an appointment to receive your no obligation free quote.
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