14
OCTOBER 2016 PRO INSTALLER
PRO NEWS
www.proinstaller.co.uk
GET ON WITH THE
JOB OF BREXIT
The UK will begin the formal Brexit negotiation process by
the end of March 2017, prime minister Theresa May has said meaning the country could leave the EU by summer 2019.
In the meantime, the
debate about whether
the UK is entering a recession or not rumbles
on like a rollercoaster. Here, Ian Anfield,
managing director for
the construction audit,
contract and payroll
provider, Hudson Contract, gives a view.
“Whether we’re entering a
recession or not is a big talking point at the moment. Certainly, we at Hudson Contract
have seen that the number
of operatives averaged per
client has dipped by 4.5%
in the last three months, but
it’s unclear if that means an
output dip or the beginning
of a long downturn.
“There are so many factors
to be considered but I have
an impression that any
downturn may be relatively
short-lived. HSBC’s chief
economist commented that
the government has done a
number of credible things
since the vote. These included ensuring new leadership
headed by Theresa May,
ruling out an early general
election and ruling out an
emergency budget. Taking
time to speak with European leaders and not triggering Article 50 this year all
seems to make economic
common sense.
“It’s certainly not all doom
and gloom. The latest reports from the Purchasing
Managers’ Index reveal that
construction output also
recovered last month following a seven-year low in July.
It appears that business
confidence is stabilising and
the feared short-term effects
of the referendum have
been short-lived to a certain
extent.
“Overall I’m definitely one
for seeing the glass being
half-full for the construction
industry. Private business
can and will build if the
government act in a decisive
and positive way to minimise the uncertainty the
Brexit vote created. We’ve
all seen how Team GB performed recently - it’s time
the whole country took on
the ‘Believe’ mantra.”
Brexit was at the top of
the agenda at the Tory party
conference in Birmingham
earlier in October. Theresa
May attacked those who
“have still not accepted the
result of the referendum,”
adding: “It is up to the
government not to question,
quibble or backslide on
what we have been instructed to do, but to get on with
the job.”
www.hudsoncontract.co.uk
BREXIT AFFECTS
LIKELIHOOD OF
MOVING HOUSE
Home services marketplace Plentific.com’s latest
research has found that Brexit continues to impact the
likelihood of moving for one in five British homeowners.
Plentific’s latest survey of 2,000
adults has revealed that there is
still uncertainty surrounding the
housing market after the Brexit
vote. 22% of homeowners have
indicated that Brexit is affecting
the likelihood of them moving in the
short term; 10% of owners are now
more likely to move home in the
next three years, with 12% now less
likely to uproot.
Looking at London, over a quarter (26%)
of owners in the capital are more likely
to sell their home in the next three years
because of Brexit, with 11% less likely. With
average prices currently reaching £484,716
(ONS: July 2016), could this latest insight
suggest a flood of properties about to hit
the market, which in turn would likely to
see a reduction in prices? Londoners also
have a high percentage more inclined to
make home improvements: 27% of property owners in London are looking to invest
in their home rather than face the housing
market.
The Plentific surveys also found that
there has been a 50% rise in homeowners
who are more likely to make home improvements in the wake of Brexit. These
figures illustrate how, in this instance, the
post-Brexit panic has subsided and the public are feeling more relaxed about spending
money.
This change of heart is particularly apparent in the north east and north west of
the UK where the number of homeowners
likely to make improvements has more than
doubled. 21% of owners in the north west
‘research shows that the public are still unsure of our future’
are now more likely to attempt a home
improvement project with the north east at
19%. Statistically, the north majority voted
for Brexit which could explain why they are
adjusting faster than the south.
Cem Savas, co-founder of Plentific.com
commented: “We knew Brexit would have
massive consequences for the UK housing
market and our research shows that the
public are still unsure of our future. Despite
the fear-mongering and confusion which
has surrounded the topic, Plentific’s statistics show that homeowners are now more
relaxed about the idea of spending money
on their property. Interestingly, our research
highlights the current nervous property
market in London, with a quar ter of Londoners ready to cash in and sell up.”
https://plentific.com/