Property Improvement Trends Published 29/08/2017
New research shows that higher home value doesn’t always bring home happiness.

Results from Halifax Insurance’s survey highlight that 22% of people feel that they are living in their dream home.

Homes with higher value do not necessarily increase our happiness. 62% of people surveyed who live in a home worth more than £500,000 say that where they live now is not their dream home.

What are we doing about it?
Many of us (63%) see home improvements as the answer – most people have spent £2,000 - £5,000 on our properties during the last year. 22% of homeowners have spent £11,000 on domestic improvements during this time.

Home improvements don't end with cosmetic changes. Halifax Insurance’s results show that the number of planning applications has increased by 27% since 2012. But – recent results show that enthusiasm for larger projects is cooling. The increase in planning proposals increased by just 2% during May 2016 – June 2017. A significant change.  

What are the most popular ‘dream home’ projects?
One new trend dominates London planning applications: basements. With a huge rise of 183% since 2012, basement conversions are proving to be extremely popular.

Traditional changes involve:
  • Single storey extensions – up 49% since 2012
  • Loft conversions – up 43%
  • Conservatories – down 3%
  • Porches – down 3%
“Basement conversions are an ideal way of gaining extra living areas without needing additional space,” says Jason Dyer of JTM Homes. “This is particularly interesting for landlords as extra space could increase bedrooms and therefore rental income.”

Are you looking for your dream home?
Many people would rather move into a property that is right for them rather than become involved with complex building projects. Others relish the chance to plan changes and see their property’s rental yield or value increase.

Whether you’re looking for your dream home or one you can add value to, talk to the team at JTM Homes. With years of north London property expertise and offices in Highgate and Archway, you’ll find your ideal property, fast.