Believe it or not, home ownership in the United Kingdom is currently at its lowest levels since 1985 and only 63% of the country’s households are owned and occupied by the same individuals. Additionally, rental rates are also at their highest levels since 1960 but it’s important to note that there is a palpable change on the horizon.
The Housing Market Will Experience a Significant Revival Very Soon
According to several financial analyses, our nation’s property market is on the cusp of a substantial resurgence:
- Per a recent BBC report, housing prices in southwest England actually increased by roughly 4.9% during the past 12 months.
- This trend is expected to continue as rental rates slowly descend from their current highs and younger citizens begin purchasing their first homes.
- As the home ownership rate recovers from its current lows, the market will become increasingly saturated and more valuable.
- In fact, home values could increase by as much as 10% to 15% during the next half-decade.
As such, now is the time to partner with the best building company in Exeter to refurbish your home, construct an addition, rebuild your roof, convert your loft, or bump out your living areas.
Synergise with the Trends to Considerably Enhance Your Property’s Value
Even a modest, small-scale home improvement project such as refitting your kitchen with some contemporary cabinets or tile floors will allow you to appreciably boost your building’s listing price.
Thus, it’s in your best interests to schedule a meeting with a commendable local construction specialist to identify the most lucrative, impactful renovation projects for your building, particularly if you’d like to take full advantage of the forthcoming housing boom.