UK homeowners that took to improving their gardens during the pandemic lockdown periods have invested wisely as they see property values increase greater than building an extension, or fitting a new kitchen, experts reveal.
According to the 2019 Post Office Money Survey, landscaping your garden could potentially increase the value of your property by a whopping 77%. This means garden landscaping provides a greater return on investment than building an extension, adding a swimming pool, or fitting a new kitchen.
The study, which was conducted over five years, was based on the mid-range asking price of a three-bed semi-detached home across the UK. It found that properties with garden landscaping added the most value to a home. Garden landscaping was proven to be the most cost-effective form of home improvement when selling while providing the best Return on Investment (ROI) compared to other types of home improvement projects. A home improvement like a new kitchen was found to add a property value increase of only 25%, with a building extension saw a 37% increase, and a low 7% increase was seen after adding a wet room.
Nexus Pro Systems is a UK leading manufacturer of paving jointing compounds for the landscaping and construction industry. Their head of operations, Tom Hamilton, said: “Our consumer trends data certainly supports that garden landscaping has been a significant growth area with homeowners, especially over the pandemic period. Particularly, during the lockdown period, we saw increased consumer demand for our Pro Joint Fusion ‘all- weather’ paving grouting product, which I can only assume meant that landscapers and DIY enthusiasts were actively rejuvenating their outdoor spaces come rain or shine.
“Indeed, many of our merchants based throughout the UK have reported a significant rise in consumer demand for all manner of landscaping supplies. I believe it is important for homeowners to know that investing into their gardens not only increases the kerb appeal of their property but also its saleable value.”
Foxtons estate agents conducted research revealing that simply having a garden will generally increase a property’s value by 20%. A high percentage of 72% of buyers were prepared to pay more for a property with a garden, according to the Foxtons research.
Data by Rightmove revealed that access to a garden was a priority for over 60% of buyers searching for a new home. On the other hand, the Royal Chartered Institute of Surveyors found that 80% of property professionals consider the demand for a garden will continue to increase.
“Any improvement that raises the value of a property can be significant. If you need to access funds quickly, borrowing against your property, whether with a further advance, refinancing to better terms or a second-charge bridge can be one of the quickest and cheapest methods. At the same time, if you are investing in a property to rent out, and will be borrowing to buy and renovate, don’t overlook the garden, given that improving it will certainly raise the overall Gross Development Value (GDV) and as such improve the amount and potentially the rate at which you will borrow,” said Alastair Hoyne, CEO of ‘Finanze’, an FCA regulated specialist property finance firm.
In their recent study, ‘MyToolshed’ analysed house prices across ten areas of London and found that a well-maintained green space could increase the average Islington North London house price of £848,710 by £141,451. Similarly, homes in Ealing priced at £786,507 could gain an additional £132,806 by rejuvenating their garden spaces. Properties could see profitable gains of £131,084.50 on a house priced at £796,834.00 in Wandsworth.
Sourced from a variety of UK industries, the above research proves that many UK homeowners who invested in landscaping garden improvements during the lockdown periods have benefitted from a quantifiable increase in the saleable value of their property.
Nexus Pro Systems
Nexus Pro Systems Ltd is a national manufacturer specialising in the supply of innovative products to the paving, landscaping, and driveway industries. The manufacturer has a UK stockist network of over 250 builders and stone merchants. It boasts a product portfolio that includes a range of paving ancillary products and a range of sealers and cleaners. There are also unique resin jointing systems for pointing between paving slabs and setts
Media Contact: Jon Hollywood – Head of PR
Tel: 07474 779196
Finanze - Specialist Property Investment Brokerage
Founded by Alastair Hoyne, Finanze specialises in bespoke solutions for bridging, buy-to-let, development finance, and commercial mortgages. Finanze launched in 2021, with Hoyne drawing on his background in investment banking, hedge fund management, and strategic consultancy to provide an institutional-grade service to sophisticated private property investors and corporations. Hoyne has issued terms on £75m worth of property, representing £45m in gross loan value, after receiving FCA approval at the end of September 2021. Alastair Hoyne T/A Finanze is an Appointed Representative of Connect IFA Limited 441505, which is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference 958726.
Contact: Alastair Hoyne
Tel: 0208 058 5389