Archive for October, 2009

According to figures released last week by Nationwide, the average price of a home in the UK rose by 0.9% in September of this year. In monetary terms, this percentage stands at £161,816, which is virtually identical to the average price that was recorded in 2008. However, does this represent yet another promising sign that the UK housing market is making a swift recovery? Although homeowners and property developers may want to believe that it does, there remains considerable doubt and confusion over these most recent of statistics.

Indeed, homeowners have been buoyed of late as house prices have crept back to 2008 levels and mortgage lenders are becoming more active again – undoubtedly, the housing market has been stimulated positively. However, before homeowners dash out to the local hardware store for the tins of magnolia and various DIY bits and bobs that are necessary in order to prepare the home for sale, it is worth sounding a note of caution. Whilst the average price of a home has increased during the previous year, the figure remains nowhere near its peak in 2007. In fact, all signs indicate that the housing market will take five years or so to fully recover and that recent price trends are stimulated by short-term stock sales.

Furthermore, the main reason behind this lethargic recovery is, according to a number of leading economists and property experts, that house prices remain significantly overvalued. In fact, the International Monetary Fund’s most recent World Economic Outlook suggests that the majority of housing markets in the world are due to fall further. In the case of the UK, that fall is expected to be in the region of 12-13%, which could see the average price of a home drop to around £140,000. Thus, the time for waiting goes on for many homeowners.

Well, at least it is according to a poll conducted by Sandtex Paints, which also claims to be the UK’s premier masonry paint brand. Indeed, following a survey of some 3,000 home-owners, the popular paint manufacturer found that 23 per cent of people who live in blue houses are company Directors. Furthermore, on average, those living in blue houses earn approximately £38,000 per annum, take at least two holidays a year to faraway paradise resorts such as those in Barbados and most of them appear to drive luxurious cars.

If that is not proof enough of the value of a blue home, the poll also revealed that 31 per cent of these professionals are managers, most have several members of staff working underneath them and the majority have successful legal or medical careers. Moreover, 14 per cent are wealthy enough to be able to employ the services of a cook, most are married with children, all have at least four close friends (generally, anybody who can afford to fly off to the Caribbean on a regular basis will tend to attract plenty of buddies) and 8 per cent employ a nanny to look after the children.

At this point, most people will already be making their way down to Homebase for a few tins of Bamiyan Blue emulsion. Of course, the adage that one can prove anything with facts ought to apply in this instance, as it is clear that a poll of just 3,000 wealthy home-owners is hardly a useful cross-section of the population. However, those considering a new lick of paint for their walls may wish to look beyond this obvious marketing ploy. Indeed, blue is generally regarded as a fresh, soothing and relaxing colour that helps to focus the mind and soul. Therefore, perhaps blue is the colour for some.

As politicians prepare for the monumental global climate change summit to be held in Copenhagen this December, The Telegraph reports that home owners are keen to do their bit and are becoming ‘increasingly interested’ in Solar Panels. The Telegraph suggests that home-owners are keener than ever to install Solar Panels onto their home, despite lack of support from the government.

Despite recent Government warnings, relayed by Professor David MacKay, which predict increased national power cuts within the next seven years and champion the installations of Solar Panels, the government has done little to help home-owners interested in having these installed.

In Germany the Government has helped over 130,000 homes with the cost of installing Solar technology. This is quite an achievement in comparison to the UK Government, as a paltry 1720 home-owners have benefited from the British Government’s Low Carbon Buildings Programme grants system.

However, the future is looking up (literally!) for home-owners who are going to undertake home improvement renovations and are willing to spend the estimated £10,000 to install solar panels. The cost has come down by around fifteen per cent within the last five years and also the Government has proposed a Clean Energy Cash back scheme, due to take effect in April 2010, whereby home-owners will receive cash back for generating their own electric and feeding the surplus into the national grid.

Recent studies have also showed that Solar PV cells have greater longevity than previously anticipated, based on cells installed in the sixties, which are now still running at eighty per cent capacity! Remember, if you are planning to make low carbon home improvements to your property then is it worth checking out the Energy Saving Trust and the Low Carbon Buildings Programmes to see if you qualify for any Governmental/grant assistance.