The Society of British Interior Design posted a buoyant article about the state of the UK interior design market, reporting a 43% increase in the refurbishment sector at the start of 2010. (SBIDs own survey)
Last year, FX magazine reported on the state of the contract flooring market, predicting sharp decline for 2009 but speculating that the commercial sector would be an area for recovery while public sector budgets are squeezed.
SBID’s finding do not concur with the 2009 decline, reporting that British interior designers avoided the worst of the downturn that affected the property market. Over 50% of interior design companies have seen no change in the demand for their services across the board, as they have diversified into the residential refurbishment sector.
SBID’s predictions for 2010 are optimistic, highlighting hotels and restaurants as key growth areas where refurbishment budget, squeezed in 2009, will be flowing again.
This February, the Surface Design Show hosted a seminar called “The road to recovery is paved with…. The preview was less optimistic, saying while recent months have suggested a degree of market recovery in the City, there is little sign of the much desired ‘trickle down’ effect for wider aspects of the economy and society.
Ken Livingstone spoke at the Surface Design preview, and also wrote a piece for Building Design discussing the economics of the impending public sector budget cuts. He argues that investment (ie further debt) would pave the way to growth, in time reducing our country’s debt – not stringent cuts and taxes.