Almost eight in 10 (78%) electrical and building services firms say turnover increased or remained steady in the second quarter of 2016, according to new research from the Electrical Contractors’ Association (ECA).   The findings cover the period leading up to the EU referendum, and the week following the landmark result. The ECA is currently working on a separate Brexit survey, which is open until Tuesday 6 September. ECA CEO Steve Bratt commented: “The ECA’s business survey for Q2 indicates that electrical and building services firms have been doing more business, despite potential challenges in the wider economy.” Looking at Q2 2016, the ECA’s Building Engineering Business Survey, conducted in association with Scolmore, also found: • Small businesses (turnover £201k – £1m) had a positive quarter, with nearly 3 in 4 firms (72%) reporting turnover remaining steady or increasing, up 7% on the previous quarter. • Medium-sized firms (turnover £1.1m to £5m) also enjoyed a strong quarter, with 8 in 10 businesses (80%) seeing turnover rise or remain steady, also up 7% on Q1. • Large companies (turnover £5.1m to £20m) had a fair Q2, with over 8 in 10 firms (83%) indicating that turnover increased or remained steady, up slightly on the last quarter. • Very large businesses (turnover over £20m) saw turnover hold steady, with over 5 in 10 firms (53%) reporting turnover remaining the same, while 35% had an increase. Looking to Q3 2016, the period immediately following the EU referendum result, the outlook from building services firms remained positive. Over 8 out of 10 respondents (82%) expected turnover to increase or stay the same compared to Q2, which is similar to forecasts in the previous quarter. ECA members were surveyed for their views in early July this year, with the response rate from members the highest in nearly five years.       Source link

A new survey which polled 10,000 people in the UK has revealed the key reasons that first time buyers are struggling to get a foot on the UK property ladder. The survey asked what they believe is the single greatest barrier to saving for a deposit on their house – with rent prices, the cost of living and a lack of well-paid employment opportunities taking the top spots. The study, conducted by Tiles Direct, revealed that 38% of Brits – and over half of 25-34 year-olds – believe rent is too high to save for a deposit on a house. The cost of living came in second, with 21% of respondents declaring this the biggest barrier for first-time buyers – as salaries become more and more thinly stretched. According to 18% of those surveyed, a lack of well-paid job prospects is to blame – with over a fifth of women considering this their greatest hurdle on the path to homeownership. Generation Rent Across the board, inflated rent prices were held responsible for the first time buyer’s struggle to save for a deposit – as the average cost of renting in London has reached almost £1500, according to recent data from HomeLet. In spite of the capital’s spiralling rent prices, just 31% of Londoners considered this the greatest block to buying a house – versus a huge 59% of people living in the North East. As UK house prices continue to outstrip average salaries, the Chief Executive of housing and homelessness charity Shelter, Campbell Robb, predicts that “Generation Rent will be forced to resign themselves to a life in expensive, unstable private renting”. The Y factor While rent and living costs took the lion’s share of the vote, some respondents felt that Generation Y were the architects of their own downfall – with 6% blaming the irresponsible spending habits of first-time buyers. With 9% of the vote, a lack of motivation to save money was also cited as a serious barrier to buying a home – and 18% of 55-64 year-olds consider this the root cause. Surprisingly, 17% of 18-24 year-olds also took this stance – citing an inability to save (10%) and reckless spending (7%) as two of the primary roadblocks. 15% of over-65s held the poor interest rates offered by banks accountable for our inability to scrape together a deposit, as the financial incentive to keep money in the bank hits rock bottom. Other responses included Britain’s acute housing shortage, escalating house prices and a domination of the UK property market by rental accommodation – highlighting the perfect storm of socioeconomic factors affecting first-time buyers nationwide. Topline results In your opinion, what is the single biggest barrier blocking first-time buyers from saving for a deposit on a house? • Rent is too high to save for a deposit: 38.0% • Higher cost of living: 21.0% • Lack of well-paid employment opportunities: 18.2% • Lack of motivation to save money: 8.8% • Irresponsible spending amongst Generation Y: 6.4% • Poor interest rates on savings accounts: 6.0% • Other: 1.6% Source link