Planning applications for home enhancements have risen in recent years, with a boom in basements and loft conversions and a drop-off in conservatories, analysis has found.
There has been a 27% increase in the number of planning applications throughout England, Scotland and Wales between 2012 and 2016, inning accordance with a review of local authority data from Halifax Insurance coverage.
Britain’s “dream house” is changing, the findings recommend. There has actually been a development in applications for single-storey extensions and loft conversions – while basements, which are especially popular in London, have seen a substantial 183% increase in applications since 2012.
Conservatories and decks are falling out of style in the majority of parts of the country, Halifax Insurance coverage discovered, recording a 3% fall in applications.
Wiltshire and Cornwall buck the pattern, with conservatories and patios remaining popular in these locations, the research discovered.
Kitchen restorations are particularly popular in Edinburgh, and in Derby house owners are especially most likely to want to enhance on both bedrooms and bathrooms.
Resident in Cornwall are also especially most likely to want to fix up garages and car ports.
Some home owners might be opting to improve instead of move. Separate research study from Lloyds Bank just recently found that in the first half of 2017, the number of house movers was down by 2% compared with the exact same duration a year earlier.
The typical cost paid by home movers for a residential or commercial property has actually risen by 41%, from ₤ 206,122 in 2012 to ₤ 290,991 by June 2017 – an increase of ₤ 84,869, Lloyds discovered.
Jeremy Ward, head of house insurance coverage at Halifax, stated many individuals may not understand they need to let their insurance company learn about works they carry out on their house – with simply 14% of resident saying they have actually notified their insurance company before beginning work.
He said: “It’s important to have the essential insurance policy in place whilst carrying out the work and equally essential to upgrade insurance when the job is complete – cannot do so will invalidate the policy.
” On the positive side, nevertheless, having a burglar alarm or CCTV installed as part of home renovations could help in reducing premiums, as well as offer additional assurance.”
Here is the regional growth in planning applications considering that 2012, inning accordance with Halifax Insurance, which analysed figures in between January 2012 and December 2016:
East of England, 31%
East Midlands, 28%
South East, 24%
West Midlands, 19%
Yorkshire and the Humber, 19%
North West, 18%
South West, 11%
North East, 6%
And here are the regions most likely to show a preference for a particular home attribute, according to the research, which also surveyed more than 2,000 home owners:
Separate utility room, East Midlands
Garden or outside space, South West
Loft extension, West Midlands
Swimming pool, South West
Bi-folding doors, Wales
Man cave, Yorkshire and the Humber
Home gym, London
Hot tub, East Anglia
Games room, Wales
Tennis court, London
The data shows that London is the region with greatest growth in planning applications and loft conversion is very popular. Moving home to increase living space is expensive particularly in view of the changes in stamp duty. No wonder, loft conversion is becoming ever more popular.