At the same time as being in the second deepest recession on record, the UK is seeing a housing boom, with, according to new figures from Nationwide this month [Sept], prices soaring at their fastest pace for 16-years of two percent. This it attributed to the release of latent demand and the Stamp Duty holiday.
With the fortunes of the window and door industry traditionally going hand-in-hand with those of the housing market, house price inflation and high levels of activity would suggest demand will continue into the New Year, despite potentially lower levels of consumer confidence in the main.
Either way, window and door sales figures suggest a release of some pressure from the market going into the autumn.
The final notable change to comment on is the increase seen in average order values in August compared to July. These increased from an average of £3,554 to £3,864, a 9% uplift, which may indicate a shift away from single purchases as seen over the summer to wider replacement packages.
This would be consistent with increased fragility in consumer confidence as a whole and the ‘running-out’ of holiday refunds; and a shift to more comprehensive projects linked to movement in the property market.