Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
According to the 2019 Post Office Money Survey, landscaping your garden could potentially increase the value of your property by 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 across the UK, was based on the mid-range asking price of a three-bed semi-detached house. 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%, a building extension saw a 37% increase, and a low 7% increase was seen after adding a wet room.
Nexus Pro Systems 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.”
According to research conducted by Foxtons estate agents, simply having a garden will increase a property’s value by 20%. Foxtons’ research also found 72% of buyers were prepared to pay more for a property with a garden.
Data by Rightmove revealed that access to a garden was a priority for over 60% of buyers searching for a new home. Moreover, The Royal Chartered Institute of Surveyors found that 80% of property professionals expect the demand for a garden will continue to increase.
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.
Alastair Hoyne, CEO of Finanze, an FCA regulated specialist property finance firm, said: “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.”
