Living Oak, specialists in creating bespoke oak framed homes and extensions across the South East, has announced a rapid increase in new business since the vote to leave the EU. In the last 3 months (Q3 2016), the company reported a 25% rise in enquiries compared with Q2 2016, from customers looking to renovate rather than move.
Stuart MacArthur, Founder of Living Oak commented: ?The lead up to the EU referendum was a time of uncertainty in the market, as many waited to hear if we were in or out before they made any big decisions. We were anticipating business to be very quiet for the remainder of 2016. However, we were pleasantly surprised when, as soon as the announcement was made, many of our customers decided to go ahead with their renovations. We have 35% more projects this year than compared with the same period last year.? Research from Living Oak has shown that the changes in Stamp Duty has also had a positive impact on the business, with customers choosing to put the money into renovating to create their dream home. A recent survey by Lloyds Bank advised that the average cost to move home in London is now £31,416 (£27,946 in 2014) and the UK average is now £11,000 (£8,098 in 2014.)
Stuart added: ?The cost to move has risen year on year and this has certainly impacted the homeowners on the second and third rung. Adding an Oak frame extension doesn?t just change people?s way of life but also adds value, in excess of the build cost. We have recently worked with a...