I have been following a topic in Pistonheads about housing. There is a massive uptake in house sales, extensions, home offices rental chasing apparently triggered by Covid reasons. Prices have surged ahead with competitive bidding, buyers jumping in for higher costing houses and rentals. The Stamp Duty easing has created a stampede. People seem to be a bit like Lemmings increasing their mortgages. It could well be a bubble set to burst. How are people getting mortgages? Maybe longer term or lenders chancing it? The mortgage : salary multiplier seems to be getting bigger.
There are big shortages not only of building materials but a wide range of commodities and items.
We have just had a major garden refurb done. Luckily no major material shortages but delayed from last year as the original man became ill and we had to wait for another to have a slot. We already had porcelain paving delivered last year.
We looked for a Keter storage unit but none to be had apart from an occasional one showing miles away. Reasons quoted were Covid reducing manufacturing and Suez blockage. Local B&Q suddenly had 51 come in so we pounced. They were being sold fast. A golfing mate ordered decking timber, paid, showed as in stock. Got told only half could be delivered due to stock shortage so a delay. He told them supply from another depot or he would cancel. No committing of stock to orders made.
Ikea also had shortages despite manufacturing most themselves.
There is a poster on Pistonheads who is a professional in Planning. He has revealed that Boris has sanctioned big changes in Planning rules to open up house building to meet shortfall targets. The poster is pulling his hair out over the changes that will allow developers to push through developments. He reckons the current laws are like a sieve but the new ones even worse.
Inflation? Definitely going up.
