What will your home be worth in five years?

Following a recent statement by ratedpeople.com revealing a conservatory or other space-adding extension could boost the value of a property, a body has released its residential price trend predictions for the next five years.

The National Housing Federation (NHF) expects the worth of houses to increase across all areas of England by 2014.

A recent survey on its behalf predicted London homes would be worth an average of £354,900, while those in the south-east should be around £293,600.

The south-west will be the third most expensive place to live at £225,400, while the north-east will be the cheapest (£155,700), it suggested.

Residents in the north-west can expect to pay an average of £159,300, while those in Yorkshire and Humberside should not be surprised to see a typical home worth £175,600, compared to £235,400 in the east of England.

The standard West Midlands home is set to be valued at around £180,500, while their cousins to the east will be set at approximately £165,300.

According to NHF chief executive David Orr, the government should aim to avoid dramatic rises in costs for first-time buyers by building new homes.