Until recently, people living in London seemed to be most concerned with the issue of space, with ‘work from home’ orders in place and the trends in the housing market – and varying geographical price patterns – suggesting buyers would rather look to rural areas with lots of space than the crowded metropolis.
However, as the Evening Standard has noted, this situation has changed dramatically as the pandemic has eased and the commuter belt has become the place to live again. Citing the latest data from Rightmove, it noted that London prices have risen 7.3 per cent in the last year, the highest growth since 2016.
While householders may feel glad they hold increasingly valuable property, the flip side of that is the cost they may face when moving, which is why those planning home improvements might consider alternatives to an extension designed to create home working space now staff are returning to the office.
Indeed, one part of the capital where householders should think about how they can raise their home’s value with new bathroom refurbishment is south west London.
This is because it is in such outer London boroughs that the price inflation trend is running hottest, with Merton among those local authorities with the greatest increases – and, therefore, potentially the biggest challenges for those upsizing.
Hello Magazine recently revealed the recommendations of Kirstie Allsopp and Phil Spencer, the property experts who are best known for presenting the TV show Location, Location, Location. They list improving a bathroom as one of the most effective ways to boost the value of your property.
Redecorating with fresh paint is another productive step they advise, while they also noted that there are some means of increasing property values that actually cost almost nothing – such as giving your house a name.
By taking steps to make your house more attractive in a booming outer London property market, you could ensure that any subsequent house sale provides you with the means to take the next step up. And if you don’t move, your home will still be a much enhanced placed to live in.