For people looking to move out of the private rental sector and become house buyers, there was more good news at Prime Minister’s Questions today. As Corbyn attempted to claim that more house building is needed, Prime Minister Cameron was able to show that the Conservative led government built more council houses in five years than the previous Labour government achieved in 15 years. With the programme set to be expanded, this is good news for construction companies including house builders and loft conversion specialists and home improvement companies.
With a shortage of housing in London and the neighbouring counties of Essex and Hertfordshire, private landlords are more likely to divide housing stock into flats and loft conversion flats in order to sell off some or all of the housing stock. A loft conversion in Buckhurst Hill could turn a single floor flat into a split level home, increasing value for either rental or property sale by far more than a simple extension.
More home buyers and an increase in turnover of housing stock would also be good news for professionals such as estate agents and solicitors. A suburban legal practice that specialises in property law would see more customers. A solicitors in Barnet for example would expect an increase in business from additional housing development in the Barnet Copthall area.
For many, buying a home is an important step for newly married couples looking to start a family. If home buying becomes easier through the right to buy scheme around London and the M25 area, more people are likely to get married. This is good news for a wedding photographer in Essex or Kent.
More people getting married is likely to lead to an increase in other legal and insurance services such as life insurance and will requirements. This means that a service offering will writing in Devon might benefit as much as a legal firm in London.
Large shops offering wedding lists such as John Lewis might see a rise in business as a result of a rise in the number of weddings. Also, with more people buying their own homes, they are more likely to shop for white goods and home furnishings. Some might prefer to buy second hand or antiques as well. If there are no good antique shops in the area, people in and around London and the M25 might shop for antiques online.