More Brits moving into property development

The number of Britons looking to start up a construction-related business venture has risen significantly in the first quarter of 2007, according to new research.

Figures from Barclays have shown that 17,500 people embarked upon such projects from January to March this year. In comparison, the mean quarterly figure from 2003 to 2006 was 13,200.

In a climate where the number of start-ups in all other sectors fell during the same period, growth in the sector continued to climb, especially in London, where the first quarter saw a 29 per cent increase.

"The British public have always been big DIYers with a record £10.7 billion spent last year, but now many of these same people are taking that interest and turning it into a business, whether they are plasterers or propertydevelopers," noted John Davis, Barclays local business marketing director.

"There doesn't seem to be any let up in our national property obsession and with getting up the property ladder continuing to be our number one collective goal in life, it doesn’t seem likely that there will be a shortage of construction entrepreneurs in the future," Mr Davis added.

Over half of all homeowners undertook some kind of home improvement project last year, according to the recent Halifax Home Improvement Survey.


© Adfero Ltd