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Trade News Archive September 08 August 08 July 08 June 08 May 08 April 08 March 08 February 08 January 08
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12th September 2008
House & garden wholesalers 'escape property slump'
Though the property downswing continues to gather pace, one new study has shown that consumer demand for home improvements and garden furnishings is booming.
Wholesalers are benefiting from a surge in internet traffic for house and garden retailer websites, with the sector reporting an increase of 20.5 per cent over the past 12 months alone.
That comes despite a deepening credit crunch and accelerating house price falls, which according to pollster Hitwise reflects a growing desire to put off selling property until the economy picks up again.
Robin Goad, director of research at Hitwise, affirmed: "It looks as if people are choosing to improve their existing houses rather than move.
"The interesting thing about the growth in House and Garden retailers is that it applies both to DIY retailers … and furniture retailers," he noted. "Both types of retailer have increased their share of internet visits over the last 12 months."
Hitwise based its findings on visits to its shopping and classifieds website, which saw the house and garden category increase from 0.49 per cent in August 2007 to 0.59 per cent in August 2008.
(c) 2008 Adfero Ltd.
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