Direct Furniture Supplies Reveals how the Improving Housing Market is Completely Altering the Furniture Industry
May 28, 2013 (PRLEAP.COM) Lifestyle NewsAs the housing market continues to recover in 2013; the furniture industry receives a timely boost with sales of bespoke furniture on the increase. The changing landscape of the housing industry has had a direct impact upon furniture sales. Both homes and furniture are constant necessities, but the shift in the UK's economic fortune has affected both. As the housing industry died, more and more families and individuals have been forced into rented accommodation due to their inability to find a suitable mortgage. As such, the furnishings needs have altered significantly.
In the society where rentals were becoming more and more the norm, the demand for wholesale furniture grew. Landlords who owned a large number of properties are inclined to invest in wholesale furniture as this can significantly reduce the cost per unit. Alternatively, private home owners will have no need to invest in large quantities of furniture as they only need to furnish one home at a time.
Obviously this will massively change the demand placed upon the industry and naturally realign the supply. Many furniture producers and suppliers will be forced to follow the trend of the demand and this demand in a rent-heavy society would be for cheaper wholesale furniture. Cost effective furnishings such as high gloss furniture have become a popular fixture in rented properties during the double dip recession.
However, this demand will change once again now that the housing market has begun to grow. In March, Halifax reported that property values are on the rise after a 6 year slump. The average property price rose by 1.9% from February 2012 to February 2013, this indicates an increase in demand and an industry working its way back to full health.
As this demand for new homes increases, so does the demand for individual, quality furnishings. People naturally want the best furniture for their homes and are willing to make the investments, if they can afford them.
This growth in the housing industry means that furnishings to suit all budgets will increase in demand. Whilst first-time buyers may not have a great deal of disposable income to buy, wealthier families will be inclined to join the housing and furnishing market at this time as well.
It is not just the new home buyers who will use the growth in the housing market as a reason to invest. Parents who suddenly have an empty nest now that their children can afford to move out may be inclined to invest in their home and increase its worth.
So whilst the financiers laud the improving housing market; the real beneficiaries may be the producers of high quality furniture.