This article will walk you through all the need-to-know painter and decorator industry trends in the UK 2022.
During the late 1990s and up until the mid 2000s the construction industry enjoyed huge demand for its services. However, there were of course a few issues during these times. For instance, skilled labour was difficult to find, and business insurance prices skyrocketed for some.
This didn’t hold the industry back though, as the strong housing market at the time meant there was plenty of painting and decorating work out there for business owners. The rising popularity of housing makeover shows at the time also caused a surge in painters and decorators businesses.
Unfortunately, towards the latter end of the 2000s, things started to come a bit unstuck. During this time the economy fell off and the housing market pretty much collapsed. This all led to construction companies laying off members of staff and finding new work was tough.
Painter and decorator industry outlook
The economy remained weak as we welcomed in the 2010s, but a few years down the line things started to improve once again. The industry remained competitive in 2014 but saw a much better year for painters and decorators.
The recovery within the construction industry kept going into the first half of 2015, as wages went up, interest rates lowered, falling oil prices played a part and people’s confidence in their employment was on the rise. This delivered the longest period of sustained growth since the financial crisis, with continuous development from May 2013 until June 2015. The recuperation in the construction sector lost energy in the third and fourth quarters of 2015, in any case, and it entered downturn in the main portion of 2016.
Statistics for the third quarter of the year showed that construction output was at its most vulnerable for a considerable length of time. This was believed to be generally because of the economic uncertainty following the vote in June 2016 to leave the EU. Brexit was a huge shift for the entire country and much uncertainty surrounded it, in the construction industry and beyond.
Although there was an overall drop in work in November 2016, the amount of new work actually increased. New housing output continued to grow and was driven by the following:
- An increase in public housing in the wake of the government’s drive to provide 400,000 affordable housing starts by 2020
- Continued growth in private housing due to historically low interest rates and the loosening of private planning restrictions
Development in the construction industry stayed curbed during 2017. Little change is expected from this point forward.
Following the choice in June 2016 to leave the EU, the value of sterling fell forcefully, expanding the expense of imported construction materials significantly. Thus, profit margins, which were at that point under tension in 2016, were crushed further in 2017. Greater expenses, more fragile interest and the vulnerability coming about because of the Brexit exchanges made for intense exchanging conditions during 2017 and into 2018.
Where are we today?
Of course, from that point on, things got even more complicated as the Covid-19 pandemic kicked into action, having huge effects on businesses globally. Some ventures had to close down permanently, and the introduction of social distancing meant that painting and decorating work was more or less impossible during extended periods of time.
There will always be demand for good skilled tradespeople, and rightfully so. However, in this tough climate it can be exceedingly difficult to achieve success as a business unless you are offering high quality service to paying customers.
When searching for new work you should always keep in mind that:
- The high price of moving up to a larger property, particularly in areas where prices are high, for example in London, means that extending their homes is popular amongst homeowners – you could keep an eye on local planning applications
- The increase in buy-to-let landlords has created a spike in renovations – although recent tax changes have made buy-to-let less attractive so there may be a reduction in this work in future
For a long time, trades like painting and decorating have suffered from public mistrust due to ‘cowboys’ who scam unwary customers. Presently the business is attempting to further develop guidelines and clients’ expectations are higher than at any other time. New organisations have the chance to assist with working on the image of the industry by adopting an expert strategy to their work – and thusly they are likely going to increase their own odds of achieving success in the process.
The internet makes things simpler than any time in recent memory for potential customers to learn about a business’ standing and read customer feedback, and various audit and rating sites have been set up specifically for construction industry organisations.
Paint technology is always evolving in order to meet new requirements and improve overall performance. Low-odour and low-emission paints, for example, have been designed to meet increasingly difficult environmental legislation. You can now even get paint coatings that claim to provide some extra insulation for a building using certain nanotechnology.
Environmental and wellbeing concerns have driven a considerable amount of the advancements in paint and materials technology lately. These have prompted a few substances, for example, dichloromethane paint strippers being confined, eliminated, or restricted with new items being created to supplant them. Many paint and coatings producers have changed from dissolvable to water-based paints.
There are now many different specialist paints available for a wide number of applications, and it’s vital that professionals remain updated with the latest developments.
Keeping up with developments
By joining a trade association, you’ll be able to keep up with all the updates and changes of legal issues in the painting and decorating industry. This is perhaps the best way to remain well informed and stay one step ahead of your direct competitors.
The Painting and Decorating Association (PDA) represents professional painters and decorators in the UK. You are able to discover more about the services they offer to members and the benefits of signing up on their website.
Seasoned professional with a strong passion for the world of business finance. With over twenty years of dedicated experience in the field, my journey into the world of business finance began with a relentless curiosity for understanding the intricate workings of financial systems.