The property market in the doldrums
06/02/2012 | Property market in the doldrums. Innovation is key. The property market is still suffering and this remains bad news for all sectors in the bathroom industry. There are mixed reports from different areas of the country; some areas doing better than others and London, in particular, seems buoyant being spurred on, no doubt, by the Olympic effect. The latest surveys suggest that the number of new buyers registering with estate agents fell in each of the last three months while the length of time it takes for a property to sell is increasing. To crown the inevitable uncertainty house prices are static or falling. “It’s all a bit grim, unfortunately,” comments Yvonne Orgill CEO of the BMA. “While new buyers are thin on the ground then our industry has to look for new ways to stimulate growth and innovation is key.” It’s not just product innovation that generates growth. It is true that the bathroom industry has jumped through hoops since 2008 when the recession took hold and advanced products have appeared which push materials technology to new heights. But it is also creative marketing which has stimulates interest and selling opportunities. The use of the social media, as a part of the marketing mix, is beginning to prove invaluable to those in the industry who grab it by the scruff and use it to gain competitive advantage.