House Prices and the Kitchen Industry Outlook

I was reading a piece by Dan O’Brien yesterday in the Irish times on the delicate state of our economy and the outlook for kitchen industry. Its heading “Escape from recession not on the cards in 2013” hardly shocking ground breaking news.

The article began “Nobody – at home or abroad – believes that the Irish economy will bound out of recession in 2013. The best forecasters and observers dare to hope for is that output grows modestly and that the shake out in the labour market comes to an end.” Having witnessed close to 5 years of a housing crisis with house prices in free fall and the collapse of the construction industry and associated kitchen industry there are welcome and continuing signs over the past number of months.

Surveys pointing to stronger consumer and business confidence, and last weeks CSO figures on residential property prices ( for November) provide further evidence that the stabilisation of the market, in evidence since the first half of last year is holding. For all of us in the kitchen business any stabilisation of property prices and positive consumer confidence is very welcome indeed.

Lets be positive, people still need to live somewhere. First time buyers will enter the market if prices are not falling.  Families are growing and running out of space, they may not trade up but may convert and improve existing space. The key now is to offer great value for money. There may not be any major improvement this year but I would settle for no further deterioration and a bottom out. With tight budgets, value for money and quality products with quality service are all important but by far great value is the key this year. We will strive to offer the best prices to customers backed up with great quality and a prompt service. When the load gets heavy we got to pull together.

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