14 Mar

Good neighbours add 12% to property value

Good neighbours add 12% to property value

With the market still struggling to regain the health it saw before the financial hardships that hit the UK in 2008 and 2009, people looking to sell their homes will look for any way possible to gain some added value.

A new report from Churchill has found that the majority of estate agents (88 per cent) agree that having good neighbours can be a contributing factor in raising the price of a house.

It said that those who have favourable people living either side with well-maintained properties of their own can see their valuations rise by as much as 12 per cent, giving them an average of an extra £19,400.

Martin Scott, head of Churchill home insurance said: "Relatively minor issues such as maintaining gardens and keeping external paintwork in good condition could increase property values in the area generally, putting pounds in homeowners' pockets when they come to sell."

It can, however, also be true that negative aspects can put downward pressure on house prices, with things like broken windows proving to be very costly.ADNFCR-1222-ID-801556503-ADNFCR

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