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
George Osborne surprises Labour Party
George Osborne has today set out the UK government's public-sector budget for the next four years which will bring in multibillion pound savings. However, surprisingly, the average budget reduction across the government departments is around 19% which is slightly lower than the figure of 20% which the Labour Party had apparently pencilled in earlier this year. So where does this leave opposition p...
Read MoreHouse Prices Close in on 2007 Peak
The Nationwide has today reported that house prices are now getting close to the peak of 2007, after the average property price jumped 6pc in the last month. The figure now stands at £177,846, which is 9.4pc higher than in February 2013, showing signs of aggressive growth. This data has been derived from the Nationwide’s own House Price Index, and is based around mortgages that have been...
Read MoreDate of wedding can be key to savings, says expert
Planning a wedding away from the peak months usually desirable for couple's big day can result in a significant saving, according to one expert.Editor of You and Your Wedding, Colette Harris, says that holding a wedding outside of the busy summer months can pay off, as can arranging a mid-week wedding.Other ideas that can cut costs include sending email invitations, offering wedding cake as desser...
Read MoreBank profits 'cost households £441 each'
Financial marketplace Zopa has estimated that the cost of HBOS and RBS' profits results in a bill to each UK household of £441, marking a ten per cent year-on-year increase.Recently, the banks made their profits known, with HBOS recording a £5.7 billion total and RBS achieving a £9.2 billion profit."The truth is that banks in the UK have let down their customers badly by failing to deliver agai...
Read MoreAmazon set to launch online grocery store
In a move away from its core business it has been revealed that Amazon, the largest online retailer the world, is looking to set up an online UK grocery store in the very near future. While details are fairly thin on the ground at the moment it would appear that the constant erosion of the company's core business by the likes of Tesco, Sainsbury and other superstores in the UK has prompted this mo...
Read More