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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.

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