Green home improvements tipped to provide opportunities for builders
Home builders need not consider the housing downturn to be all doom and gloom, as with the demand for green renovations and sustainable housing augmenting there is a growing market for housing skills.
Currently estimated at between £3.5 and £6.5 billion, the green improvement market could turn the prospects of an otherwise slowing house building market around.
A study by Oxford University has suggested that the government invests in policies to help nurture the demand for green developments.
The study also advocates improving skills in the industry and providing financial incentives for offering green improvements.
Consumers too could benefit from the increasing recognition of green developments, as an improvement to their home could increase the resale value significantly, as well as save money on bills for the current owner.
Gavin Killip, the author of the report concerning the opportunities to go green, said: "Making low-carbon housing mainstream will be good for business and good for jobs, as well as reducing energy bills and CO2 emissions."
"UK housing is among the worst in Europe when it comes to energy efficiency, which means there is plenty of room for improvement. Bringing British homes up to standard is possible using existing technology but the skills and industry base to deliver the necessary change is under-developed."
Adding a conservatory would be another way to add value to a home, which many homeowners are looking to do as improving appears to be the new moving for some in the wake of the credit crunch.