Renovations sector ‘has bottomed out’

Home-RenovationIt seems the home improvement industry is finally recovering from the global financial crisis, according to one expert.

Jason Orme, editor of Homebuilding and Renovating, said “all of the evidence” indicates that the market has bottomed out and is “now moving up”.

Developments to upgrade people’s property have been “relatively strong” and, although there is a lack of enthusiasm about the short-term future of the sector, the wider industry is “picking up slowly, rather than decreasing further”, he explained.

Furthermore, it will survive in the long term as families grow and requirements change, with renovations “something that people eventually feel they have to do”, Mr Orme continued.

That is “the beauty of the home improvement industry”, the expert asserted, noting that construction projects may be delayed temporarily but will eventually have to commence.

However, data from the latest IMRG/Hitwise Hot Shops List found major DIY retailers have fallen from its analysis of the top rankings of stores.

Related Post