Home maintenance levels drop

In the 2014 Second Quarter Estate Agent Survey released last week, it came to light that levels of home maintenance by owners are falling.

The number remained higher than that of 2008/9 but it would seem that the “improving trend may have ended” last year. 

'Given our expectation of further interest rate increases to come through in the remainder of 2014 and 2015, we expect some further moderate deterioration in the levels of home maintenance and upgrades in the near term.'

The survey examines - based on estate agents' perceptions - various home maintenance levels, the top one being the percentage of owners 'investing in their properties with a view to adding value'. This was 10.5 percent in the first quarter of this year, but dropped to 9.5 percent in the second.

The next level was the percentage of owners fully maintaining their property and making improvements. 'This also declined mildly over the past two quarters, from 45.5 percent at the end of 2013, to 42.5 percent (in June).'

The third level, owners not improving, but still fully maintaining their homes, declined from 40 percent in the third quarter of last year, to 34.5 percent by the second quarter of this year.

The percentage of homeowners attending to basic maintenance only, had more than doubled, from 6 percent at the end of last year, to 12.5 percent in the second quarter of this year.

The lowest level - owners allowing their homes to 'get run down' - was 1.5 percent over the two quarters.

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