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2009 Property Maintenance Market Predictions on Wed 10th December, 2008
-aspect.co.uk reflects on 2008, and looks forward to 2009-
aspect.co.uk (www.aspect.co.uk), a leading property maintenance and refurbishment company, has witnessed many changes in the sector over the last year. Here, the company provides its review of 2008, and some predictions for 2009.
2008 - Refurbishment:
• 2008, has been a divided year. Before March, the refurbishment market was strong and people were undertaking large structural work and making vast changes to their properties.
• Post-March, this type of activity ground to a halt and there was a real shift towards more superficial refurbishment work, such as bathroom and kitchen upgrades.
William Davies, managing director of aspect.co.uk, comments: “Undoubtedly the beleaguered property market and financial uncertainty has left homeowners deciding to either rent their properties, or to improve as opposed to move home. As a result, the refurbishment work they are choosing to undertake is completely different.”
2008 - Maintenance:
• Over the past year or two, there has been a significant shift towards energy efficient heating installations. As a result, we are seeing a real increase in the number of call outs to repair these new types of system.
William Davies provides his predictions on 2009:
2009 - Refurbishment:
• Looking towards 2009, I believe that the switch we have witnessed since March this year will continue. We are still attending more estimates than ever, but are having to work harder and to look at our prices – competition is steep. The power is now well and truly with the consumer.
• One positive is the change in interest rates, which is having a real impact on people’s spending power. Mortgage rates are coming down, and homeowners have more disposable income to spend on their properties.
2009 - Maintenance:
• During 2009, I think we will see more people spending money on maintaining as opposed to installing new equipment. Where a homeowner has a 10-year old boiler that once they would have considered replacing, in 2009, it may be a different story.
“We have never experienced an economic climate like this, and we wait to see what 2009 will bring.”
- Ends -
Notes to editors
aspect.co.uk is a leading property maintenance and refurbishment company operating across the domestic and commercial sectors.
Specialising on all areas of maintenance, from the drains to the roof and anything in between, aspect.co.uk sets new, modern and highly professional standards. The company provides both reactive emergency breakdown maintenance and planned and estimated works.
aspect.co.uk prides itself on the fact that its engineers turn up on time for their scheduled two-hour appointment window. The company does not charge hidden costs, such as parking, congestion charge or travel time, and jobs are completed as professionally and promptly as possible.
Founded in 2004, aspect.co.uk has grown at over 100% year-on-year. The company is based in South West London, and operates primarily across the city and all areas inside the M25. Today, around 100 staff are employed by the company, and there are plans to expand nationally throughout 2008.
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