12 Jun

Nationwide reveals property price influences

Nationwide reveals property price influences

New research from Nationwide Building Society has indicated some of the best ways homeowners can boost the price of their properties.

Location is the key factor in dictating how much a home is worth, the financial services provider said, but adding more bedrooms, extensions and installing central heating are prime methods of inflating the value of bricks and mortar.

Martin Gahbauer, Nationwide's chief economist, said that the survey was conducted in light of the different requirements of today's homebuyer.

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

Adding one extra bedroom can put 11 per cent onto the price of a property, the economist advised.

Last month, HSBC said that loft conversions and room extensions were the two home improvements likely to boost house prices more than any other project.

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