Property expert Dominic Arnold on why we are enjoying a boost of confidence in developing

Blimey, it’s cold! Since writing our last column the weather has taken a turn for the worse and we find ourselves piling the logs onto the fire and snuggling down earlier and earlier in the evenings. I can’t even imagine having a BBQ or swimming in the sea, instead being quite happy to just plan our December and prepare for the new year from the comfort of our home.

We toyed with the idea of doing some building work on our own property just before Christmas but the thought of any upheaval that may spill into the holiday period filled us with dread, so we’re putting off booking the team in until next year. Which is probably just as well as they’re flat out in any case with no available slots for clients until next May. And asking around, that seems to be the case for most of the reputable firms in the area. There must be a new optimism afoot as this time last year it was a very different story: enquiries were down and January looked relatively quiet.

“Various indicators, including the retail price index, have ignited a quiet little bubble of feel good”

So where’s this renewed confidence come from, I wonder? Why is it that until very recently there was a real reluctance to put money into either buying new properties or investing in existing ones? Even in June when the sun made up its mind and came out to cheer us all up there was still not much sign of a resurgence of enquiries for building work; since then it’s all changed.

The reasons seem to be threefold: since July consumer confidence has been boosted by steadily low inflation that has actually dropped in real terms; the availability of more jobs in the private sector; and, most importantly, the Bank of England declaring that there will likely be no increase in borrowing (interest rates) until late 2015. All this and various other indicators, including the retail price index, have ignited a quiet little bubble of feel good so those who have some savings might now consider home improvements. Which is why here at Cocoon Property we’re busy until the middle of next year.

If you’re considering home improvements and can wait a few months to begin works then now is the best time to be talking to your builder or developer. If they’re worth their salt they won’t be available until spring in any case so you’ve a perfect length of time to put your ideas down on paper, get the plans made up and deposits paid to secure their services.

In the meantime, relax and enjoy the festive period but don’t forget to set aside a little time to dream up your perfect conversion and get your preferred developer on side now, before someone else does!

Dominic Arnold
Dad to three, husband to one, MD of Cocoon Property Ltd, Brighton:
specialising in full-house refurbishments, eco-retrofit, loft conversions, kitchen extensions (side returns), interior design and condensation control.

01273 556800
www.cocoonproperty.co.uk
Follow me on twitter: @PropDom