WHAT AFFECTS THE VALUE OF YOUR HOME?
Published ¤ 11/06/2009
Nationwide have carried out a special report into the factors that affect the value of your home.
Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist, said:
"In a buyer's market homeowners are keen to know which characteristics are likely to make their home relatively more attractive and which ones may detract from the price. Over time, buyer's expectations have changed and overall the general quality of property in terms of amenities is improving. Location is still the biggest factor affecting the value of property, and a house in the best neighbourhood can command a price nearly 50% higher than a similar house in an 'average' area. However, other characteristics also have a significant influence on the desirability, and thus price, of property. For example, extending a property to accommodate an extra bedroom can add around 11% to its price."
To see the full report from Nationwide, please click on the image below:
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