Categories: General
      Date: Aug 13, 2013
     Title: Home Buying Accelerates across the UK

The Royal Instituion of Charterred Surveyors (RICS) has confirmed this morning that house sales are at the highest  for the first time in four years. The focus of home buyers has still been on extending their existing homes as after studying the figures, the cost of moving home outweighed the cost of extending their existing home.

RICS have also confirmed that loans applied for this month are at the highest where a very large proportion of these are established homeowners who have released equity from their existing homes to develop and increase their existing accommodation by way of extending to the rear or into the loft spaces.



The Royal Instituion of Charterred Surveyors (RICS) has confirmed this morning that house sales are at the highest  for the first time in four years. This is clearly a good sign for a stronger economy and increased property prices which is where a large number of home owners have been affected in recent years. The focus of home buyers has still been on extending their existing homes as after studying the figures, the cost of moving home outweighed the cost of extending their existing home.

All areas across the UK saw price rises during the month of July 2013 with the biggest increase in value was, as expected, in London.

RICS have also confirmed that loans applied for this month are at the highest where a very large proportion of these are established homeowners who have released equity from their existing homes to develop and increase their existing accommodation by way of extending to the rear or into the loft spaces. Majority of homeowners preference is to extend to the rear creating open plan kitchen, dining and living accommodation overlooking the gardens. This has proven to create a unique selling point which is what clients want, they want wow factor, they want to add value to their homes for the coming years. Moving at the moment is out of the question for many so adding value is still the only cost efective solution.

NADA Architects have seen extending a home can add more value and in many cases, exceeds the cost of the construction which is equally as important. Homeowners do not want to be end up in negative equity and extending in such a way has proven to increase property prices substantially for many clients.