Home improvement plans shelved warns FMB



Homeowners are increasingly pausing and postponing home improvement plans as the cost of living begins to bite, the Federation of Master Builders (FMB) has warned.


The FMB has made this declaration given recent ONS figures that the value of construction work for repair, maintenance and improvements fell 1% in August.

This is despite an overall 0.4% growth of activity in construction in general.

Against this backdrop, FMB CEO Brian Berry said homeowners would naturally be waiting to see what the upcoming budget would bring.

“The long-awaited budget will at least provide clarity about any tax increases that might further dampen consumer spending,” said Brian.
 
“Given the importance of the building industry to support economic growth the government needs to be outlining details about its election commitment to upgrade five million homes. This could provide a pipeline of work for many small builders as well as improving the homes of millions of families living in poorly insulated homes.”

The autumn budget will be held on 30th October.



Leave a comment