Home to street after street of Victorian and Edwardian terrace properties, East London has long been a highly popular, characterful residential area. In recent years, one of the most popular ways to add both space and value to an East London property is to make use of otherwise redundant loft space by building a loft conversion.
By transforming a two bedroom property to a three bedroom property by way of an East London loft conversion, the property will increase in value by an average +21.99%.
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.
East London boroughs studied: Barking & Dagenham, Bexley, Greenwich, Lewisham, Hackney, Havering, Newham, Redbridge, Tower Hamlets, Waltham Forest
How much value does a loft conversion add to a property in Barking & Dagenham?
With the majority of the housing stock in the London Borough of Barking & Dagenham dating from the interwar period of 1921-1939, the area boasts a plethora of terraced and semi-detached properties perfect for loft conversions. In the Borough of Barking and Dagenham, a loft conversion adds, on average, +22% to the value of a property.
How much value will a loft conversion add to a property in Bexley?
Comprising the areas of Thamesmead, Sidcup, Vickers Green, Belvedere and Bexley Heath, the London borough of Bexley boasts many areas of large open spaces. Formed of a collection of historical villages linked with the inevitable suburban sprawl, today the majority of Bexley residents are homeowners. With a large family oriented population, three bedroom properties command premium prices. A loft conversion converting a two bedroom property to a three bedroom property in Bexley can result in a +28% increase in value.
How much value could a loft conversion add to a property in Greenwich?
Situated along the south banks of the River Thames, the Royal London Borough of Greenwich comprises Thamesmead, Greenwich and Woolwich in the north, Kidbrooke and Eltham towards the south of the borough. Property in Greenwich remains some of the most affordable in London, which is reflected in the average increase in value of +13% by adding a loft conversion.
How much value will a loft conversion add to a property in Lewisham?
Containing areas such as the sought after London village location of Blackheath and the family friendly locality of Sydenham, the London Borough of Lewisham is an extremely popular residential municipality. Maximising the potential of your Lewisham home can certainly pay dividends; adding a loft conversion in Lewisham will add, on average,+28% to the value of your property.
How much value does a loft conversion add to a house in Hackney?
Adjacent to the City of London, the central London Borough of Hackney contains 25 conservation areas and protecting both open spaces and large areas of Georgian and Victorian properties. From the artistic centres of Shoreditch and Hoxton in the South to Stoke Newington and Dalston, Hackney properties remain highly sought after. Whilst many Hackney residents have already converted their lofts to provide additional living space, to add a loft conversion to your Hackney property will result in a value increase of around +10%.
How much value could a loft conversion add to a property in Havering?
A loft conversion in the London Borough of Havering could add +15% to the value of your property. Whether in the areas of Romford, Hornchurch, Upminster or Rainham, transforming a two bedroom property into a three bedroom property by converting the loft is a sound investment.
How much value does a loft conversion add to a property in Newham?
In a London Borough with a large Asian population, who statistically tend to live as larger family units, properties with additional bedrooms will always be in demand. By converting the loft of your Newham property to transform a two bedroom house into a three bedroom house, you can enjoy a +23.5% increase in value.
How much value will a loft conversion add to a property in Redbridge?
Boasting good schools and an abundance of spacious properties, the London Borough of Redbridge is a popular location for families. It’s good to know that even spacious properties can be improved upon; a loft conversion on a Redbridge house will add around +28% to the property’s value. In real terms, adding a loft conversion to a two bedroom property worth £200,000 could result in a three bedroom property worth £256,000.
How much value could a loft conversion add to a property in Tower Hamlets?
Comprising much of the traditional East End of Bow, Bethnal Green, Mile End and Whitechapel, along with the regenerated areas of the Isle of Dogs and Docklands, Tower Hamlets is a vibrant blend of old and new. Being an area that has enjoyed an increase in popularity over recent years, property prices in Tower Hamlets remain higher than the East London average. Adding a loft conversion to a property in Tower Hamlets could add a significant +32% to the property’s value.
How much value does a loft conversion add to a property in Waltham Forest?
Converting the loft of your property in Waltham Forest could add +19%to the value. In a popular area packed with terraced and semi detached houses surrounded by vast green spaces, adding a loft conversion to your home will certainly pay dividends.