Belfast Telegraph

UK Website Of The Year

Lacking kerb appeal 'could cost home sellers £57,000'

Published 17/02/2016

Kerb appeal is a key factor for home buyers, a survey says
Kerb appeal is a key factor for home buyers, a survey says

House sellers will typically be offered up to £57,000 less than they want for their property if it lacks kerb appeal, a survey has found.

The bulk (44%) of people surveyed for Barclays Mortgages said they would try to knock between 10% and 20% off a property's asking price if it looked unappealing from the outside.

With the average UK home now costing £288,000 according to Office Statistics (ONS) figures, a 20% discount could mean £57,600 being wiped off the typical property price.

In London, where the average home costs £536,000, a property which looks unattractive from the outside could lead to buyers pushing for a discount of more than £100,000, the findings suggest.

One in 20 (5%) of people surveyed would try to knock 21% to 30% off the asking price of a home which looks unattractive externally.

A further 16% of people would ask for a discount of 4% to 5% on the asking price, while 5% of people would try for 6% to 7% off and 7% of people would aim to get 8% to 9% off the asking price.

But one in six (15%) of those surveyed would not ask for any money off a property just because the exterior looked unappealing.

The survey of 2,000 home owners found that people typically take just 10 seconds to decide whether they like a property from the outside.

Top turn-offs when it comes to kerb appeal include signs of vermin control outside a property and a scruffy garden.

Some features voted as being among the most "undesirable" may be seen as a bonus by other people, depending on their circumstances and personal tastes. For example, being near a pub, or fast food outlets, or busy transport links, were also voted the top undesirable features for a property.

A well kept garden was voted the most desirable kerb appeal feature, followed by double glazing, space for parking and appealing neighbouring properties.

With their low maintenance appeal, just over one in three (36%) people voted new build homes as their preferred property style.

Meanwhile, 29% of those surveyed prefer Victorian properties and 27% would opt for a Georgian-style home.

Nearly two-thirds (64%) of people would be put off by a house which had concrete as its exterior material and 62% would be turned off by brightly-coloured rendering. Three-quarters (74%) of people favoured a home made from modern brick.

Muted colours were also preferred when it came to front doors, with white and black topping the list of colours people favoured, and orange, pink and purple among the least popular choices.

Craig Calder, director of Barclays Mortgages, said: "Getting the small details right can be one solution that can really boost the financial value of your home."

Here are the most desirable kerb appeal features that can boost the value of a property, according to the research for Barclays Mortgages:

1. A well-manicured garden

2. Double glazing

3. A parking space

4. Appealing looking neighbours' houses

5. Neighbours having well-manicured gardens

And here are the top turn-offs that could spoil a home's kerb appeal to prospective buyers:

1. Vermin control outside the property

2. An unkempt front garden

3. Noisy communal buildings nearby (eg pubs)

4. Busy transport links close by

5. Close to fast food outlets

And here is what a 20% discount could shave off an average property price around the UK, based on ONS average house price figures (figures show the average house price followed by the discount):

:: London, £536,000, £107,200

:: South East, £365,000, £73,000

:: East, £315,000, £63,000

:: South West, £261,000, £52,200

:: West Midlands, £207,000, £41,400

:: East Midlands, £198,000, £39,600

:: Scotland, £193,000, £38,600

:: Yorkshire and the Humber, £183,000, £36,600

:: North West, £182,000, £36,400

:: Wales, £175,000, £35,000

:: Northern Ireland, £158,000, £29,600

:: North East, £155,000, £31,000

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More

From Belfast Telegraph