UK Money News
23rd January 2008
Self-building sector 'can defy economic downturn'
The self-building and renovating sector of the UK's construction industry can defy the negative outlook for the national economy and may even thrive because of it, according to one expert account.
Tim Doherty, managing director at the National Self Build & Renovation Centre, has suggested that trouble with money in the wider economy is unlikely to have a heavy impact on the industry in which his organisation operates.
In fact, Mr Doherty claims that the gloomy economic outlook could lead to less small developers constructing profit-making properties on land that might otherwise be used by self-builders.
"While the credit crunch appears to have created a lot of economic doom and gloom for some, self build, renovation, conversions and domestic extensions still remain accessible and in the current climate, are perhaps even more appealing," he said.
Research by Abbey recently indicated that British consumers could improve their personal finance situation and reduce their trouble with debt by securing the most competitive mortgage deal available to them.
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