House Prices Impact on the Plumbing & Heating Industry

Many plumbers raised their concerns with us recently about the state of the economy and the falling house prices in the UK. According the leading mortgage lenders prices of properties in the UK have seen flat to negative growth rates, sending many plumbers and heating engineers into panic mode that it will mean the end of the property boom.

It is imperative to understand that boiler repair, boiler replacement and central heating service jobs are still likely to remain stable as they relate to simply operational activity of the boilers and the central heating systems. People still need to run the central heating and still need the boiler to heat the water for the shower. Boilers have a limited life time and as we all know boilers break down and need replacing.

In addition, as people are less likely to move home, there is a better chance that they will initiate improvements and extensions in their current homes. This will no doubt generate jobs for plumbers and heating engineers, such as heating installations for a new extension (many are voting now for underfloor heating), bathroom upgrade and hot water system upgrade to an unvented system.

When the market is difficult our plumbers highlight the importance of cost savings. For example, installing a new condensing boiler will save around 35% of a typical home’s heating bills when compared to an old boiler. This is in addition to the benefit of reduced CO2 emissions from the new boiler.