Study - The post-pandemic property features which can boost your house value

A new study by MoveStreets, a property portal designed for the mobile generation, has found which home improvements are most likely to add the most value in the post-pandemic property market.

The UK property market continues to thrive despite the pandemic and the average homeowner is now 10.6% better off than this time last year - with the average UK house price now sitting at £264,244.

When analysing the improvements most likely to add value to your property, it’s very apparent that the pandemic and the time we spent in lockdown has had an influence.

What post-pandemic property features do homebuyers want?

A home gym is the most valuable addition in the current post-pandemic market. According to the Post Office, it’s thought to add as much as 44% in value and the study by MoveStreets shows that in the current market, that’s a whopping £116,267 more added to the value of your home.

During the pandemic, the need for more space, in general, has driven homebuyers across the country to upsize. As a result, adding an extension can also add considerable value to your home, as much as £97,770 based on the current average house price.

Perhaps surprisingly, a walk-in wardrobe is the next most profitable feature you can add to your property. It’s thought to boost the value of a home by a substantial 34% which equates to £89,843 on the current average house price.

A new kitchen could increase the value of your home by nearly £69,000, while a swimming pool could add an extra £58,000 and sprucing up your garden could also bring a further £53,000 in current market conditions.

A basement conversion could increase a property’s price by £45,000 while a loft conversion (£28,538), a conservatory (£26,000) and a driveway (£23,782) could also bring in between £20,000 to £30,000.

Chief executive officer and co-founder of MoveStreets, Adam Kamani, said: “There’s no doubt that the pandemic has changed the way we view our homes and what we consider a valuable addition having spent so much of the last two years within them.”

Kamani continued: “Any improvement that adds space is always going to appeal to buyers, however, it’s interesting to see that a space to keep fit now tops the table in terms of the most value-added.”