2010 - A Year For Home Improvement
Election uncertainty and talk of a double dip in the economy has done nothing to
suppress the optimism of British home owners - according to a GB wide YouGov survey carried out this month, almost half of those homeowners surveyed revealed they are planning home investments in 2010.Almost half of the home owner respondents 48% confirmed their intention to invest in their homes this year whilst over a third of those homeowners questioned 41% stated that adding value to their home would be the reason behind any home investments.
Share:Jace Tyrrell of the New West End Company, which represents over 600 retailers on Bond, Oxford and Regent Street said that "Home retail took a hammering last year, with sales of furniture and home accessories falling off a cliff face for some retailers. Our survey highlights this, with 41% (excluding those that said "don't know") of homeowner respondents admitting to having put decorating and buying new furniture and tableware on hold due to the recession.
'2010 has shown some incredibly positive home sales and this survey of over 2,000 respondents from across the GB provided some startling results. However, despite the bullish results of the survey, retailers are very much aware that shoppers to the high street need to be wooed and given added value for every pound they spend.''
In the build up to the May Bank Holiday, the first ever West End Home Week is launching next week involving retailers such as Anthropologie, Debenhams, House of Fraser, John Lewis, Liberty, Marks and Spencer and Selfridges.
Shoppers to London's West End will enjoy a full week of discounts on homeware, exhibitions offering inspiration for budding home designers and exclusive in-store lectures by top home designers, who will advise on trends and valuable updates for the home.
Paul Mitchell, Store Manager at the Oxford Street, House of Fraser, stated that As shoppers look to invest in their homes over the coming year, we want to respond to the current appetite for home design. West End Home Week is ideally timed to offers shoppers a fantastic selection of homeware, advice on how to improve their homes and inspiration for those looking to update''.
Other findings of the West End Home Week survey showed that 38% of the homeowners surveyed believe that renovating their bathroom will add the most financial value to their property. Others however argue that a loft conversion will add more value.
Dated beige bathroom sets and lino floor tiles are out, with homeowners realising a luxurious, modern bathroom can update the feel of the whole property and therefore provide more bang for their buck.
by: MAKE International