At a time when the cost of living has been soaring, many people will have been thinking carefully about how to manage their household budgets; not just in terms of day to day costs, but also in their larger spending decisions.
Home improvements are a case in point. For much of the last two years the desire for more home working room or extra outdoor leisure space has motivated many to focus on extensions.
Now, however, circumstances have changed. With the pandemic easing and the clarion call to return to the office having gone out, there may be other priorities for home improvement, like more energy efficiency as gas prices have skyrocketed.
Alongside this may be a matter of particular interest to Londoners. As property website Rightmove has noted, the capital is seeing prices rise as the ‘race for space’ that pushed people out of the capital has reversed and living in commuter land is back in a big way.
As the Evening Standard noted, the 7.3 per cent rise in prices over the last 12 months represents the strongest London price growth since the Brexit referendum.
With the average house price in the capital now £661,000, it may seem householders will not have to do too much to boost their property price. But the corollary of that is that for those wanting to sell, and move up the ladder in London will also be costlier than before.
That may be one reason for installing underfloor heating in north London. By boosting the value of a home, householders could gain a real edge in a Metropolitan property market that is now reasserting itself after years in the doldrums.
However, it is not just the shift away from needing home working space that could change priorities for home improvers, nor even the benefits of property value. A more efficient means of heating will be especially valuable if energy price inflation becomes even more pronounced due to the impact of the current Russia-Ukraine conflict on gas prices.
For all these reasons, investing in underfloor heating may be the most efficient, attractive and cost-effective way to improve your home.