DIY chains enjoy bumper year as UK property market slows
Retailers of home improvement products are having a glittering year on the London stock market, as cash-strapped UK consumers turn to DIY projects after being priced out of moving home or undertaking expensive renovations,Publicly listed retailers including the B&Q owner, Kingfisher, as well as Topps Tiles, Wickes and the sofa seller DFS are on track for double-digit percentage share price increases of as much as 56% this year,Kingfisher and Topps Tiles have posted share price increases of 26,5% and 13% respectively, their best annual gains since the pandemic, while a 23% year-to-date rise at DFS is its strongest year since 2019,Kingfisher, which also operates in France and Poland, has issued two profit upgrades since September on the back of the company’s strong performance in the UK.
The biggest winner is Wickes, a leading retailer of paint, whose shares have risen 56% in its best year since listing on the London Stock Exchange in 2021.Retailers in the home improvement sector have been aided by the closure of their rival Homebase, which collapsed into administration in November last year.Analysts have pointed to a stagnant housing market: Halifax, the UK’s biggest mortgage lender, reported flat growth in house prices in November this year and a significant slowdown in annual growth to 0.7%, down from 1.9% in the same month last year.
Slowing house price growth reflects weaker buyer demand, as cash-stretched consumers turned their focus to cheaper DIY projects to spruce up their existing homes,Measures introduced in last month’s budget, including increasing the minimum wage and changes to property taxes, could further spur the DIY market as the cost of activities such as eating out increases,“That may drive a continued shift toward eating and spending more time at home,” Manjari Dhar, an analyst at RBC Capital Markets, told Bloomberg,Data from the Office for National Statistics shows that spending on household goods has often outpaced wider retail sales this year,However, ONS figures showed the rate of unemployment hit a four-year high of 5.
1% in the three months to October, which could dampen the DIY boom,While home improvement goods retailers have experienced a stellar year, the share prices of building materials suppliers have lagged, suggesting some homeowners have also put large home renovation projects on the back burner,Shares in the kitchen supplier Howden Joinery Group have risen by 5% this year, while Travis Perkins has suffered an 11% fall,Earlier this month, Halifax said buyers attempting to get on the property ladder in the UK were now in the best position to snap up a home in a decade,Halifax said when property prices were compared with average incomes, affordability was at its strongest since late 2015.
However, data published by the Royal Institute of Chartered Surveyors found that new buyer demand had declined to the lowest level since 2023,
The joy of leftovers – what to cook in the calm after Christmas
At this time of year, I like to stay home, shut off from the world and do as little as possible for as long as possible. Eat all the food, embrace all the leftovers and be creative with whatever’s in the kitchen. After the big day, I like to turn leftovers into some sort of pie: they’re forgiving and malleable and work with whatever you have hanging about. This leftovers pie from Tom Hunt and this turkey and ham pie from Felicity Cloake are great places to start. You could absolutely make your own pastry, as Tom does, or use shop-bought if you want to keep things as simple as possible (I always store a few rolls of pastry in the fridge over Christmas for precisely this reason)
Helen Goh’s recipe for an espresso martini pavlova bar | The sweet spot
Your favourite cocktail is now a DIY pavlova party! Pile crisp coffee meringues high with espresso cream, boozy cherries, a drizzle of whisky caramel and a flicker of edible gold leaf, then shake, spoon and sparkle your way into the New Year. A few tips: arrange the toppings in glass bowls or on tiered trays for a beautiful display, add labels for fun and, if it’s sitting out for a while, keep the whipped cream chilled on ice.Prep 10 min Cook 1 hr 40 min Makes 24 meringuesFor the meringues (make up to 3 days ahead) 140g egg whites (from about 4 large eggs)220g caster sugar 2 tsp instant coffee powder dissolved in 1 tsp hot water1 tsp cornflour ½ tsp white vinegar 1 tsp vanilla extract 1 pinch fine sea salt Cocoa powder Edible gold leaf (optional)For the espresso brandy cherries (make up to 3 days ahead)400g frozen black cherries 60g light brown sugar 60ml black coffee A pinch of sea salt 2 tbsp brandy, or coffee liqueur (Kahlúa, Tia Maria or similar)½ tsp vanilla extractFor the whisky caramel (make up to 3 days ahead)300g caster sugar 60ml water 150ml double cream 50ml whiskyFor the espresso mascarpone cream (make on the day) 300ml double cream 150g mascarpone 2 tsp coffee grounds 1 tsp vanilla extract ½ tsp cinnamonTo make the meringues, heat the oven to 150C (130C fan)/300F/gas 2 and line two large oven trays with baking paper. In a clean bowl of an electric mixer, whisk the egg whites on medium-high to soft peaks. Add the sugar a tablespoon at a time, whisking until thick, glossy peaks form and the sugar dissolves – test by rubbing a bit of the meringue mix between your fingers: it should feel smooth
How to turn an excess of herbs into a showstopping sauce for just about anything – recipe | Waste not
This make-ahead, easy green sauce is suitable for to almost any main dish and a great way to use up hang-about herbs Whenever I want to cook something special, my first thought is always salsa verde, and Christmas is no exception. This vibrant sauce is so forgiving and endlessly versatile – a last-minute showstopper that can be whipped up with a few store-cupboard ingredients and some herbs. It’s normally made with parsley, garlic, capers, anchovy fillets, olive oil and vinegar, but as long as the end result is green and saucy, I’m generally more than happy. Finely chop whatever herbs you have to hand – I used rosemary, sage, lemon verbena and nasturtiumsfrom the garden.Green sauce is a forgiving, adaptable recipe, and a great way to use an excess of herbs or leafy greens and their stalks
Scottish whisky market slides into supply glut amid falling sales and US tariffs
The Scottish whisky market has slipped into a supply glut as US tariffs and falling demand weigh on the country’s distilleries.Global scotch sales fell 3% in the first half of 2025, marking the third consecutive year of decline after decades of growth, according to the alcohol data provider IWSR.Distilleries have been grappling with uncertainty around Donald Trump’s trade tariffs, as well as declining rates of alcohol consumption.While Keir Starmer secured a trade deal with Trump in May, whisky imports from the UK into the US are still subject to a 10% tariff. The Scotch Whisky Association (SWA) has estimated that it costs the sector £4m a week
Why my mum’s scotch eggs are my Twixmas essential
The culinary essence of the festive season is a kind of sanctioned chaos. Never mind that, from one angle, Christmas is mostly just rigidly observed collective food traditions and grown adults dying on the hill of whether yorkshire puddings should be served with turkey.I don’t think I ever really feel that warming yuletide rush until I have turned a disparate assemblage of leftovers into what, to the casual observer, looks distinctly like a completely unhinged plate of food. I think most of us will know the sort of thing: there will be ragged hunks of surplus cheese, brine-slicked olives, stray bits of fruit and thick slices of the last of the cola-glazed ham; there will be a splat of cranberry sauce, a wodge of stewed red cabbage, and a dense, sticky slice of breathalyser-troubling Christmas cake. It is, I suppose, what most people think of as a Twixmas picky tea
Crunchy, tangy and fun: nine summer salad recipes to make this Christmas
The sun is beaming, cicadas are chirping and the air conditioning is on full blast. What better than a fresh salad to sit amid the holiday spread?While beautiful in theory, when it comes down to it, salad is often the bottom of the Christmas food hierarchy, resulting in a slap-dash selection of soggy, underseasoned leaves.The recipes we’ve chosen range in prep time but all offer something special – hot, cold, creamy, tangy – qualities guests may not expect. Some shine as a main dish while others work well as a supporting character to ham, turkey or other festive proteins. A few are also able to be easily assembled upon arrival if you’re not hosting
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