Homeowners look to gardens to increase property value
Published on : 08/09/2008
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A number of homeowners in the UK are looking at their garden as a way of adding value to their properties, according to new research.
The study by Yorkshire Bank, which may be of interest to those looking for a mortgage deal, found that many first time buyers believe that a garden is worth over £4,000.
In addition, it was revealed that more established homeowners would be willing to pay almost £12,000 for some green space with a property.
Gary Lumby, head of retail for Yorkshire Bank, said: "Our research shows that gardens are highly prized and with so many willing to pay a premium for outdoor space, investing in your current garden could see the value of your house grow."
He added that the use of a garden to increase a property's price may also be beneficial in the current housing slowdown.
Research by Nationwide recently found that the price of homes in the UK feel by 1.9 per cent during August when compared to the previous month.
