There was more good news at Prime Minister’s Questions today for people looking to move out of the private rental sector and become house buyers. David Cameron was explained that the Conservative Government built more council houses in five years than the previous Labour government achieved in 13 years and is working to free up brownfield sites to increase home building. Because of a shortage of housing in London and nearby counties of Essex and Hertfordshire, landlords are increasingly likely to divide larger housing stock into flats, studio apartments and loft conversion flats to sell off some or all of the housing stock. A loft conversion in Buckhurst Hill could turn a single floor flat into a split level home. This increases value for both rental or property sale by far more than a simple extension.
More and more home buyers along with an increase in turnover of housing stock would also be good news for professionals such as estate agents and solicitors. A suburban legal practice that specialises in property law would see more customers. A solicitors in Barnet for example would expect an incease in business from additional housing development in the Mill Hill or Barnet Copthall area or the North West London border. Estate agents are keen to attract potential house sellers and increasingly turn to direct marketing in desirable areas and London suburbs. Leaflets are a popular way of attracting home valuations and leaflet distributors in London are popular with estate agents. For many people in the UK, the step of purchasing their own home is important or newly married couples looking to start a family. If home buying becomes easier through the right to buy scheme around London, more people are likely to get married. This is very good news for a wedding photographer in Kent or Essex. More people getting married is likely to lead to an increase in other legal and insurance services such as life insurance and will requirements. This means that a service offering will writing in Devon or The Midlands might benefit as much as a legal firm in London. Large shops and retail chains that offer wedding lists such as John Lewis might see
a rise in business as a result of a rise in the number of weddings. Also, with more people buying their own homes, they are more likely to shop for white goods and home furnishings. Some might prefer to buy second hand or antiques as well. If there are no good antique shops in the area, people in and around London might shop for antiques online rather than travel for a day out around London.