Maximising the potential of your North London home by adding a loft conversion makes real financial sense. By looking at the percentage difference in values of two and three bedroom properties across North London, we have found that adding an extra bedroom to a North London property has the potential to result in an average +24.77%increase in value.
All data was taken from www.rightmove.co.uk (2017). Here are details on how we worked out how much value a loft conversion adds.
Whilst the average percentage difference in comparable two and three bedroom properties does vary by North London Borough, there is no doubt that in all areas, a loft conversion adds real value. Read on for a borough by borough analysis:
North London boroughs studied: Barnet, Enfield, Haringey, Camden, Islington
How much value does a loft conversion add to a property in Barnet?
With the second largest population of any London Borough, and covering the suburbs of Cricklewood, Hendon and Finchley to the South, and Edgware and Mill Hill to the West, the Borough offers a wide selection of properties in all price ranges. Being a highly populated Borough, property prices see a significant increase with an increased number of bedrooms. Converting the loft of a two bedroom Barnet property to create a three bedroom property results in an average value increase of a substantial +35%.
How much value can a loft conversion add to a property in Enfield?
The number of three bedroom properties in the London Borough of Enfield on the market currently outnumbers the number of two bedroom properties by 4:1. As a result, the average increase in value a loft conversion could add to an Enfield property is a modest, but still very healthy +11.5%.
How much value will a loft conversion add to a property in Haringey?
Whether in the highly populated area of Tottenham or the prosperous “villages” of Crouch End, Highgate and Muswell Hill, a loft conversion on a house in Haringey will add around +14.5% to the property’s value. In Tottenham a two bedroom house could increase in value from £200,000 to £229,000 with the addition of a loft conversion, whilst in Crouch End the equivalent loft conversion could see a two bedroom house increase in value from £500,000 to £572,500.
How much value does a loft conversion add to a house in Camden?
Home to some of the most expensive North London properties, a loft conversion the London Borough of Camden can result in a significant increase in the value of a property of +25%. Whether in Kentish Town, Hampstead or the heart of Camden, adding a loft conversion will not only increase your living space, but also provide a generous return on your investment.
How much value would a loft conversion add to a property in Islington?
Adding a loft conversion to transform a two bedroom Islington house into a stylish three bedroom home will add, on average, +38% to the value of the property. With such considerable value increases on offer, it pays to make the most of your loft conversion with careful planning to maximise space and facilities.