Housing Trends 2015 To Watch out for

The housing market in the UK, 2014 was quite vibrant to say the least. According to statistics from the Her Majesty Revenue and Customs (HMRC) housing sector, 2014 experienced most growth since 2007. This came at a time when there was a slump in the previous years. With growth also came new trends that depicted the direction the market was heading to. For instance, home refurbishing played a central role in determining the housing prices. Some of the housing trends 2015 that are expected to shape the housing market are as follows:

Carpets Instead Of Laminate Flooring

Just like in 2014, home owners and renters will be paying close attention to the interior décor. Prior to 2014, the housing market was depressed. And in order to keep costs low, people were opting for cheaper ways of refurbishing the homes. One popular trend was use of laminate flooring which is way cheaper than hardwood or carpet flooring. Nonetheless, due to improvement in the market, people will make a switch back to carpets instead of cheaper laminate flooring.

Stay Away From High Cost Areas

Contrary to earlier predictions, 2014 experienced a housing boom that hasn’t been seen in a decade. This was especially witnessed during the spring and summer season. Some regions such as South of England and London saw price increment that was as high as 17%. Growth in other regions averaged between 6% and 9%. On average, the housing prices increased by about5-6%. Experts in the industry expect people to stay away from the high cost areas such as London and opt for cheaper regions such as Wales and North East of England.

Instant Refurbishment

Increase in housing prices meant that more and more people were choosing to buy houses instead of renting. Although, analysts expect the prices to dip slightly (5 % compared to 6% in 2014), demand for houses especially in areas outside London will still be high. Traditionally, people have stayed in the home for a couple of months before refurbishing the home. However, this is expected to change. Instant refurbishment is one of the most likely housing trends 2015. Upon buying a home, the new owner will have new carpet laid out immediately before moving in.

Remodeling Old Homes

Predictions in 2015 indicate that home owners will stay longer in their current homes rather than selling the home to buy another. They will opt to refurbish or remodel the home to improve its value .This is attributed to cheaper ways of refurbishing the home, increased competition amongst remodeling contarctors, rising prices, and uncertainty in the market especially with the upcoming general elections.

If the housing trends 2014 are anything to go with, then bigger and better changes are expected in 2015. For instance, more people will be opting to buy homes instead of renting, home owners will opt to refurbish or remodel their homes rather than selling it in order to buy a new home or carpets will be a preferred choice instead of cheaper laminate flooring. Nonetheless, there are several factors that may influence housing trends 2015.These include the government stimulus plan, bank rates, wage increment, the upcoming general elections and much more.