I would be of the opposite opinion. Prices will go up.
Oh interesting. What makes you think that?
House prices up 0.1% as per CSO.
Households savings up 5.2 billion in Q2. Lots of cash about the place.
Demand for houses, property etc is still high so construction industry playing catch up.
People working from home will either want to buy a house or else do extensions etc. Home offices in garden etc..
The people whose jobs are lost werent buyers of property anyway really. Food, pubs, hotels, tourism staff etc were renters. Pharma, IT, finance staff are booming. I mean booming. Apple shares up 40% in 2020 alone.
Construction inflation tuning at 4, 5 and 7% for the last three years. I think it'll go higher in 2020 despite covid?
I don't see the sense in where u think construction prices are going down.
Out if interest, were left down because builder went bust, or went off to do a bigger job that was more profitable?
The people whose jobs are lost werent buyers of property anyway really. Food, pubs, hotels, tourism staff etc were renters. Pharma, IT, finance staff are booming. I mean booming. Apple shares up 40% in 2020 alone.
Long story short it looks like we have been let down by the builder we had lined up since end of last year to build a 20m2 single storey extension to our ca 80m2 terraced house. We had quotes all around 2-2.5k+ per m2 for this. We won't be going ahead until next spring/summer and I am wondering whether prices are likely to drop by then.
If that was the case we could consider going back to the drawing board and go for a 2 storey extension instead (we could really do with the extra space). What are trends looking like for construction into next year? My (uneducated) guess would be that while the sector might be busy now playing catch up, there will be a lot less buyers, more supply of properties and therefore less work next year. Am I off in thinking this?
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