The demand for property means homeowners who are keen to sell are in an excellent position. However, if you want to generate the best return when selling your home, it makes sense to pay attention to what is happening in the market, and what buyers are looking for.
At Country Properties, we are keen to help you make an informed decision in the Hitchin housing market.
Looking to move in, out or around Hitchin?
As of early May, Rightmove says the following about the Hitchin housing market;
“Properties in Hitchin had an overall average price of £476,857 over the last year.
The majority of sales in Hitchin during the last year were semi-detached properties, selling for an average price of £522,327. Terraced properties sold for an average of £397,490, with detached properties fetching £701,476.
Overall, sold prices in Hitchin over the last year were 10% up on the previous year and 15% up on the 2018 peak of £415,756.”
Of the 179 homes listed for sale in Hitchin on Rightmove (which isn’t the full market, just a snapshot from one property portal), 106 properties were classed as having a garden. This is around 60% of all listed properties for sale in Hitchin having a garden.
This is a positive thing. In the past year, buyer demand has shifted slightly, with gardens being even more important for buyers. Outdoor space has always been a key factor for prospective buyers, but in the current climate, having external space is even more desirable.
This demand for outdoor space is also crucial for vendors to consider, because it is possible to capitalise on this demand. If your property has a garden area, it is likely you will appeal to more buyers. Also, you can take steps to make your property even more appealing.
What changes in the garden add value to property?
Rated People, a site which compared trade professionals, carried out a study to see the changes homeowners are making to their home, and the value these improvements offer.
The top 10 most value-adding garden improvements in 2021:
1: Swimming pool would add £7,707 in value
2: Home office garden room would add value of £5,325
3: Summerhouse would add value of £5,249
4: Gym/studio room in the garden could increase your property value by £5,107
5: Bifold doors/French windows to the garden will add £4,654
6: Outdoor entertaining area can boost the value of your property by £4,286
7: Decked patio will increase value by £4,227
8: Paved patio will boost your value by £4,083
9: Greenhouse will increase your property value by £3,805
10: Mature plants/trees/flowers will add £3,716 in value
Adrienne Minster, CEO at Rated People commented: “Our gardens and outside spaces have been a lifeline over the past year. For many of us, outside spaces have gone from being somewhere we might spend a bit of time when the weather is nice, to an important extension of our homes which have allowed us to see friends and family when it might not otherwise have been possible. It’s easy to see why homeowners and homebuyers now place more value on outdoor spaces.”
Adrienne also said; “After a long, hard winter, we predict there’s going to be a surge in people wanting to make the most of their gardens this spring and summer – from creating areas perfect for entertaining friends and family to building new patios, garden rooms and greenhouses to maximise a home’s value ahead of selling. We just need the weather to improve now so we can enjoy our time outside!”
Further study emphasises the importance of garden space
There has also been a study undertaken by the AA, with the findings suggesting one in five people believe their garden increases property value by £10,000 to £40,000. In the South East of England, 15% of respondents felt a garden increased their property value by between £20,000 and £40,000.
57% of respondents said they would look for a property with a garden after living in one that didn’t offer garden access.
Jack Cousens, from the AA, comments: “2020 was a tumultuous time for new and existing homeowners, so it is notable to see that gardens and green space are so highly regarded in terms of both the study and the survey. As a nation, we are fairly apt with DIY and home improvement, so it will be interesting to see whether this trend will continue in 2021.”
Currently, in line with Government guidelines, our Hitchin branch is open and our sales and lettings personnel are on hand to assist you. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 452951 or email email@example.com.