House price slump continues to boost case for conservatory investment
The continued house price slump affecting the UK market could serve to strengthen the argument for adding a glazed extension such as a conservatory or a lean-to kitchen extension.
According to the Halifax, house prices fell by a further 2.6 per cent in November meaning that the average price of a UK home is now just £163,605.
Prices seen today are more akin to those in 2005, despite three years having passed and Halifax chief economist Martin Ellis places the blame firmly on the lack of demand.
"The combination of high house prices in relation to earnings, constraints on householders incomes and spending power, and the decline in the availability of mortgage finance since the summer of 2007 has curbed housing demand," he said.
The difficulty in attracting buyers could be eased by adding value to the property through home improvement.
This could be done by something as simple as adding a bespoke conservatory or a new kitchen to the house.