Extensions 'boost property value'

Posted: 17 Sep 2008 09:50:38 GMT

            Property News - Extensions 'boost property value'

Homeowners can add value to their homes with an extension, it has been claimed.

According to research by the National Association of Estate Agents (NAEA), the vast majority (92 per cent) of its members feel that adding an extension could increase the value of a house.

Of those surveyed, 41 per cent said that an extension is the best way to increase the valuation of a property, while 17 per cent suggested installing a new kitchen would have a greater effect.

Conservatories and glass extensions were considered the least valuable additions, with just four per cent.

Peter Bolton King, chief executive of the association, said: "In the current market it is understandable that home sellers are keen to try anything to increase the value of their home.

"For this reason, a well planned and built extension, that creates an additional open living space, could potentially increase the value of a property."

Latest house price figures from the department of communities and local government have suggested, meanwhile, that British houses were 0.3 per cent lower in July 2008 than they were during the same month last year.

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