Property Buyers 'Prepared To Pay Out For A Garden'

Britons are willing to pay one thousands of lbs to be able to buy a place that have a garden, a new survey indicates.

In news which may impact the value of their barred loan borrowing, research carried out by Halifax Estate Agents have shown that around eight out of 10 consumers are prepared to pay a insurance premium for a place which come ups with its ain greenness space. Overall, 35 to 44-year-olds are revealed to be the age grouping most willing to pass the most on getting a garden, with 88 per cent of such as consumers ready to make so.

However, consumers between the ages of 16 and 24 are least likely to splash out on the disbursal as lone two-thirds (66 per cent) of these people claim that they would pass other money to acquire a garden. The survey also showed that 10,000 lbs is the typical amount of money paid for the feature.

Commenting on the findings, Colin Kemp, managing manager of Halifax Estate Agents, said: "Our research shows that many of us will pay a insurance premium for a place with a garden. Making the most of your home's outside space could add existent value and maximise any sale price." Research from the company also showed that 84 per cent of married couples are prepared to pay more than for outside space. However, this figure falls to 67 per cent among single place buyers.

Those life in Greater London and the Yorkshire & the Humber part were revealed to be the least willing to pay more than for a place that have a garden, as lone 70 per cent are revealed to do. Meanwhile, figs from the fiscal services supplier also showed that occupants from the North of England and Cymru would be happy to acquire a more than expensive house with greenish space, with 87 and 85 per cent of respondents respectively declaring such as intentions.

However, a figure of Britons could be increasing restraints on their finances in the command to acquire a garden as they look to travel beyond this norm figure. A reported eight per cent are prepared to pay more than than 20,000 lbs for a yard, with four per cent willing to blast out over 30,000 pounds.

In related to news, recent research carried out by Abbey have shown that prospective first-time buyers are evermore prepared to acquire bigger loans to assist them do their initial stairway into the lodging market. Some 53 per cent of such as consumers are reported to have got opted for a barred loan which is deserving over 150,000 pounds, a rise of 16 per cent from 2003. The survey also showed that 80 per cent of respondents purpose to borrow at more than than 75 per cent the value of their desired property.

Meanwhile, the norm buyer is now indicated as having a 130,000 lbs mortgage, in comparing to the typical amount of 75,000 lbs which was taken out four old age ago. Commenting on the figures, Nici Audhlam Gardiner, caput of mortgages for the fiscal services firm, reported that possible first-time buyers are taking on greater hazards as they borrow more than money in a command "to acquire even a little ft on the ladder".