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Home owners dig deep for garden space

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by Gill Montia
Home owners dig deep for garden space

That well-worn estate agents’ phrase, “laid to lawn and flower beds” takes on a new meaning in the light of research from Yorkshire Bank.

In its quarterly Homebuyers’ Report, the bank has revealed that the average homeowner thinks a garden is worth over £9,000 in terms of the total price of a property.

According to Yorkshire’s head of retail, Gary Lumby, recent research shows that gardens are highly prized by house purchasers and that horticultural improvements can be good way of adding value to a home.

First- time buyers were generally less appreciative of a garden space than the more mature home owner, valuing a garden at just £4,361.

Respondents in their forties were willing to pay the most, at £11,650 and while pensioners were not that keen, they were still willing to spend an average of £8,363.

Those in their twenties were around £1,000 less enthusiastic than the retired, at £7,333.

On a regional basis, homeowners in the South East valued a garden at an average £16,363; Yorkshire & Humber £11,392; the West Midlands £10,162.

However, homeowners in the North East, North West and Scotland were only prepared to pay an average of £4,463, £6,006 and £7,433 respectively. The researchers suggest the results are weather-related.

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News posted: September 9, 2008

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