Balloo Hire trade mirrors RICS research
28 July 2011
According to research published by the Royal Institution of Chartered Surveyors (RICS) this month, 75% of people in Northern Ireland are undertaking home improvements instead of selling in the current climate.
The DIY industry in Northern Ireland has seen substntail growth in the past two years, as the downward trend in the housing market has prompted more and more homeowners to make improvements to increase the value and saleability of their home.
Home and garden improvements, whether large or small scale, can increase the value of your home, or limit a potential fall in value, if house prices continue to decrease.
According to Balloo Hire, the most popular items for hire are cement mixers, for which sales have risen 24%, hedge trimmers which have gone up by 29%, wallpaper strippers which have risen by 38%, and floor sanders, for which sales have increased by 41%.
Balloo Hire has witnessed sales in the DIY sector rocket by 30% in the last 12 months, and attributes this increased consumer interest in DIY to the uncertain economic climate.
“People who have never before picked up a tool or piece of equipment are now doing so because they have to, to save money,” says Paul Lavery, Managing Director of Balloo Hire Centres. “Spending money on professionals to carry out home improvements in many cases is now seen as a luxury, and doing it yourself is a great way to keep money in your pocket.
He adds; “My prediction is that the DIY hire industry will continue to grow in 2011, as people realise it’s actually more cost effective to hire a tool than to buy it, especially for things that you may only use once or twice. An important additional issue is that people can’t afford to purchase the wrong tool and by visiting a specialist hire shop, they will come away armed not only with the right tool for the job, but also with guidance on how to use it from an expert.”
Mr Lavery also considers the slump in the property market to be a contributor to increased DIY sales. “Many people are in a position where they are unable to sell, so they may have decided to improve their indoor and outdoor living space and find new ways to enjoy their homes and gardens. There will also be those who are making changes in an attempt to increase the value of their home so it’s ready to sell when the market picks up,” he says.
