“Conservatories and orangeries add most value”
- THE TIMES April 2014
Whether house prices are at record highs or we are in an economic downturn the best advice is always the same!
Our Newsletter “Add value to your home with Malbrook” in Feb 2013 quoted Nationwide Building Society, “Augmenting key living space – such as through a conservatory, orangery or garden room – can dramatically increase your property’s value.” Neil Arding (MD of Malbrook) wrote, “Adding the right conservatory, orangery or garden room could see a big return on the investment.”
A lot of home owners got the message and Malbrook certainly got very busy. Now, just a year later, house prices are at a record high in London and the South East. And the advice is still the same!
Savills Estate Agency reports, “A conservatory is a plus, particularly if added on as more of an orangery to extend a kitchen or dining room, which adds to the square footage of the house. The gains are more pronounced in London, where value is boosted by 10-20 per cent compared to 5 per cent elsewhere.”
Nationwide’s chief economist advises, “A sure-fire way of boosting the value of your home is to add extra space. Having more useable space is generally thought to be consistent with better-quality accommodation, a 10 percent increase in floor space adds 5 per cent to the price a typical house.”
Source: The Times - Bricks and Mortar Section 18th April 2014.