Insight

5 min read

A round-up of the latest self-build and home renovation news, products and events.

Topics
Topics
IMAGE: URBAN FRONT

‘Cowboy customers’ threaten future of homebuilding

Findings from two separate studies suggest the future of the construction industr y could be in dire straits. So-called ‘cowboy customers’ are said to be costing sole traders in the self-build and renovation sector thousands of pounds every year, according to new research.

The survey, by Fix Radio, discovered that 28% of British tradespeople have lost over £1,000 due to their clients not paying for work they have carried out, while over one million homeowners have ‘unfairly criticised’ home improvement works, in order to receive a discount. Sadly, 27% of contractors said their business is now on the cusp of collapse as a result.

A separate survey by BestHeating saw similar results, with 85% of British tradespeople saying they are pessimistic about the future of their trade, thanks to a decline in demand and the cost-of-living crisis losing them business. In fact, more than a quarter stated they were thinking of taking a second job and one in 10 are considering leaving the industr y altogether, following a difficult year. More than two in five are also concerned about the rising cost of materials and believe their finances will take a major hit in the coming months.

IMAGE: VITA ARCHITECTURE

Self-build shortfall

New research from Suffolk Building Society has uncovered that only one in five potential self-builders (21%) are signed up to their local self-build register, while 41% of those considering self-building didn’t even know about the Right to Build registers. These findings are supported by new analysis from the National Custom and Self Build Association (NaCSBA). According to its Custom and Self Build Report 2023/24, there is a 64% under-measuring of demand. NaCSBA found that 83,430 Brits are interested in self-building, while only 29,697 people are currently signed up to a Right to Build register. Suffolk Building Society surveyed 2,000 UK adults and discovered that 31% are considering a self-build, with those in their 20s (60%) and 30s (56%), expressing significantly more interest than those in their 50s (16%) and 60s (7%), dispelling age-related myths surrounding self-build.

*ACCORDING TO NEW DATA FROM ESTATE AGENT, HAMPTONS

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