All Press Releases for January 16, 2009

10.4% House Prices Slump in 2008 Leads to Home Improvement Frenzy

The crash in the house price market is coinciding with a major uplift in home improvement and development.

    BOLTON, ENGLAND, January 16, 2009 /24-7PressRelease/ -- It has been announced that over the past 12 months UK house prices have fell by 10.4 percent.

The new figures which were released last week represent the tenth consecutive month of declines record by the Financial Times House Price Index (FTHPI).

Whilst recording a consecutive 10 month slump it was also the sixth occasion that the decrease had been above one percent.

The continuous slump means that anyone considering selling their home will need to wait longer to enter the market. Instead most people are choosing to concentrate on improving their homes with windows, new kitchens or conservatories. With double glazing costs currently reasonably low, there is further uplift to come in this market.

"We've seen a huge increase in requests for quotations for home improvements over the last few months," said Les Yates of, the UK's leading home improvement quote comparison site. "Some of this increase can be attributed to the slow down in the housing market. Homeowners are shifting their focus away from selling and focusing on development and improvement."

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Source: Local Quoter

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Bolton, Lancashire
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