DIY sector on the rise
In a sign of the times, B&Q parent company Kingfisher has today revealed profits which are nearly 40% higher compared to the six-month corresponding period last year. This is a major development in the DIY sector which has been one of the main casualties of the recession. So is the DIY market leading the UK property sector higher?
It would appear that while many people are still locked into their properties, due to negative equity and an inability to remortgage their homes, more and more people are now looking at changes to their existing property. As a consequence, interest in the DIY market has increased dramatically over the last six months and while nowhere near levels seen before the recession, it definitely gives food for thought. There is a feeling that the sector is now over the worst and while there is still some way to go for a full-scale recovery, there is hope where once there was dismay.
It will be interesting to see how other DIY companies have performed when they announce their figures over the coming weeks and months and whether a positive consensus emerges. The DIY sector is closely associated with the property sector and there are hopes that increased activity in the sector will translate into increased activity in the property market.
Share this..
Related stories
Lloyds bank to decide on £10 billion rights issue over next seven days
It is rumoured that Lloyds bank will decide whether or not to go ahead with a proposed £10 billion rights issue by 23 October. Market insiders have suggested the company is coming to a critical point in its refloating and refinancing of the operation, something which will need the go-ahead from the UK government, the Treasury and various financial regulators. This is a very important period for L...
Read MoreDavid Miles warns of threat of inflation
David Miles, a member of the MPC, has today been discussing the threat of inflation in the UK and the fact that with the economy is on a knife edge and inflation could be out of control for many years to come. Despite assurances from the Bank of England and the UK government the rate of inflation has remained stubbornly high and is likely to remain so for the foreseeable future. However, normally...
Read MoreIs there scope for fallout in the coalition?
The Queen's speech yesterday saw a variety of different acts and comments which have caught the eye of many financial experts this morning. However, it is the absence of a timetable for political voting reform which many believe could undermine the coalition in the short to medium term. There is also talk that the Conservative party appears to be winning the tax debate with suggestions of "lower t...
Read MoreAdams falls into administration again
Children's wear chain Adams has been placed into administration after a difficult period in the company's history, putting more than 2000 jobs at risk. Restructuring experts MCR and Gerald Edelman have been appointed as joint administrators to the company's US parent JS Childrenswear. This is the third time the company has been placed into administration in as many years and a buyer is being sough...
Read MoreWhat can we learn from the ongoing worldwide recession?
Over the last few weeks we have seen signs that the likes of Japan, France and Germany are starting to pull out of their own recessionary phase although many other countries are still some way behind. However, even though there is some way to go to rectify the problems of the last two years, and in many cases the last decade, is there a need to learn from the ongoing financial issues and ensure th...
Read More