CLIPPINGS & MUSINGS

All eyes seem to be on the building and construction sectors right now...

How the turmoil in the economy will affect business and home life when it comes to investments and bills? With so many stories of dire choices between food and heat we are all looking for positive indications.

For the housing market things have been boding well with the price of an average UK property rising by 8.3% in the 12 months to July 2022. Zoopla’s, Andrew Michael stated that a typical UK house now costs £256,900, which is an increase of £19,800 over the past year.

However, some consider house prices in the UK will fall by at least 10% next year, due to mortgage companies pulling deals and raising interest levels to heights not seen since the major financial crisis in 2008. Rising inflation and increasing costs could well mean property prices will fall, but Rightmove does not consider that house prices will crash, predicting they could remain 5% higher than they were at the end of 2021.

According to some mortgage specialists, house prices will rise by 5% this year, but these will probably stall and sales could fall to a 10 year low. For construction and ultimately fenestration, this will mean that homeowners will look to invest once again in their own homes until the market stabilises.

Despite prices bearing up against the current economic rollercoaster with low-mortgages, help-to-buy schemes and good employment levels all having previously bolstered the property ladder at entry level, this could all soon change.

For the glazing sector it bodes well however, as it would appear that housebuilding was one of the main forces behind growth in construction, although civil engineering projects have really gathered momentum in the commercial sector.

But the industry is yet to feel the full brunt of Brexit despite some advantages gained - such as control of our borders and waters; control of our own money (moving quickly on), helping us to regulate in a more proportionate way that works for our British businesses; All of these will continue to help us to put money back in our own pockets….. quite how we are now taxed on that is another story.

Ambitious Designs

The use of glass in construction and architecture continues to help create some of the world’s most impressive structures. Its use over the years really distinguishes it as a material like no other that not only