Property developers have to pay enormous attention to detail on every project, but it is often difficult to determine the added value of key features, value-added services and descriptions. Even the largest agents sometimes admit to a bit of ‘black magic’ when it comes to determining the added value of property features. Personally, we prefer numbers to magic, so we’ve picked out the top 10 best and worst—the most and least valuable—commonly occurring descriptions of property features in the UK.
'Ground' was often found describing the position of the kitchen, terrace, or garage, implying that multi-floor properties are more valuable.
Given the above chart, a penthouse property with a swimming pool, sauna, and porter would be significantly valuable. Any combination of features that can maximise on the highest-performing ones would add value to the property.
When it came to the 10 least valuable features, it was clear that people don’t like sharing, especially when it comes to their homes. Properties with shared ownership, as well as those with 'shared gardens,' fared among the worst. Properties at auction were also, understandably, valued lower. Properties with few redeeming features other than having a dishwasher or having good accessibility to transportation also fared poorly.
At a closer glance, it may not always be the feature per se that adds or decreases value. Interestingly, properties with lofts were more valuable than those with attics, as many were 'loft conversions.' When we dug a little further, we found that even excluding any conversions, a property with a loft was still considerably more valuable than one with an attic. Take a look:
Sometimes, it’s all in the name.
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'REalyse (Treex Ltd) does not provide any form of investment advice or property advice or any other regulated function. Note that any information or opinions, presented or referred to in this article are for information purposes only. Any actions taken by a reader are done entirely at their own discretion, you are responsible for your own investment decisions and hold Treex Ltd harmless from the results of any such decisions'. Whilst every effort has been made to ensure the accuracy of the information herein some inaccuracies may remain.'