The most common question asked by South London homeowners when considering converting their loft into a usable space, is how much value could a loft conversion add to the property’s value? By comparing the values of two and three bedroom houses currently for sale throughout all South London boroughs, we are able to provide some real answers
The results speak for themselves. Looking at South London as a whole, adding a South London loft conversion to transform a two bedroom property into a three bedroom property will add, on average,+23.86% to the value of a property.
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.
South London boroughs studied: Bromley, Croydon, Kingston, Merton, Richmond, Sutton, Wandsworth, Lambeth, Southwark
How much value does a loft conversion add to a property in Bromley?
The largest of London’s Boroughs, the London Borough of Bromley comprises the centres of West Wickham, Orpington, Chislehurst and Beckenham. Popular with young families, housing stock in Bromley is plentiful. A loft conversion can increase the value of a Bromley property by, on average, +23%.
How much value could a loft conversion add to a property in Croydon?
Although the southernmost Borough of London, Croydon enjoys some of the fastest and most frequent train links into the heart of Central London. Hugely popular with residents looking to combine green spaces with city living, the London Borough of Croydon is home to the highest population of all London Boroughs spread throughout the areas of Croydon, Purley, Norwood and Coulsdon. The popularity of the borough ensures property remains in high demand, and the opportunities to add value in the form of a loft conversion are there for the taking. A loft conversion could add an impressive +23% to the value of a property in Croydon.
How much value can a loft conversion add to a house in Kingston?
The Royal Borough of Kingston upon Thames is home to a variety of property types, from opulent riverside properties commanding high prices, to modern estate living in Chessington and Surbiton. By adding a loft conversion to create an extra bedroom in a Kingston property, an average increase in value of +17% can be achieved.
How much value can a loft conversion add to a property in Merton?
Whilst property prices vary substantially in the London Borough of Merton, there is still no doubt that a loft conversion will add value. An extra bedroom can add an average figure of +25% to a property’s value, with the largest percentage increases possible in the areas of Wimbledon and Morden.
How much value does a loft conversion add to a house in Richmond?
Property owners in the London borough of Richmond can add, on average, +22% to the value of their home simply by converting their loft into an additional bedroom. If your two bedroom property is valued at £250,000, by transforming your loft into a third bedroom, you have the potential to increase the value of your property to £305,000.
How much value could a loft conversion add to a property in Sutton?
The London Borough of Sutton, home to the areas of Carsholton, Cheam, Wallington and Worcester Park, enjoys some of the most consistent house prices across the boroughs. Boasting many modern, family homes, adding a loft conversion here could increase the value of a property by +15%.
How much value will a loft conversion add to a property in Wandsworth?
From Putney to Balham, Battersea to Tooting, the London Borough of Wandsworth boasts a wealth of period properties – perfect for a loft conversion! With the potential to add an average of +27% to the value of your Wandsworth home, a loft conversion in this London Borough makes real financial sense.
How much value does a loft conversion add to a property in Lambeth?
Comprising the ever popular and diverse areas of Brixton, Clapham and Streatham, the London Borough of Lambeth has a lot to offer the modern city dweller. With property here in constant demand, it’s no surprise than property prices remain consistently high. If you’ve outgrown your Lambeth property, it certainly pays to look to the loft – a loft conversion in Lambeth adds an average +31% to the value of a property.
How much value can a loft conversion add to a property in Southwark?
In the London Borough of Southwark, only 31% of householders are owner occupiers. For Southwark landlords, converting a loft to provide an extra bedroom will not only result in higher rents, it will also add value to the property. Converting a two bedroom to a three bedroom property will add, on average, +32% to the value of your Southwark property.