Influences on house prices revealed

Posted: 12 Jun 2009 10:20:25 GMT

Nationwide Building Society has published research suggesting some of the moves people selling their homes can make to increase house prices.

As part of the study, the financial service provider indicated that location is the key factor in deciding what a property is worth, but there are a number of other issues that can have an effect.

By adding bedrooms to a home or extending a house in some way, homeowners are apparently likely to see prices swell.

Last month, HSBC labelled loft conversions and room extensions as the two home improvement projects that add the most value to bricks and mortar.

Martin Gahbauer, the building society's chief economist, said today's homebuyer has different requirements to those from years gone by.

"Over time, buyers' expectations have changed and overall the general quality of property in terms of amenities is improving," he suggested.

The economist added that putting an extra bedroom into properties can increase house prices by 11 per cent.


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