Houses prices have seen the highest increase in more than 16 years as a result of the pandemic, according to Nationwide bank. After experiencing losses in May and June, house prices recovered a lot quicker than expected and have now reached an all-time high.
In August 2020, the property market saw the highest prices since February 2004, with house prices in the UK increasing by 2.7%.
The temporary government suspension of stamp duty has encouraged people to fast-track their search and move quicker, in order to save cash. However, with the scathing economic impact of coronavirus, the job losses, and closures of businesses, it is predicted that house prices will drop within the next 12 months.
House prices in Sheffield and the surrounding areas have been increasing since 2013, with Stockport and Derby seeing the highest increase over the past year. However, new builds in Sheffield have rocketed since 2019, with an average price of £214K, making owning a new build in Sheffield a very sound investment.
In 2018, Sheffield had the 6th highest annual house price growth rate in the UK, growing by 5.6%. Today, the average property price in Sheffield is £176K, increasing only 1% (1.8K) over the last 12 months.
With the property market slowing down and demand dropping post-lockdown, house prices are predicted to decrease. Although we cannot be sure what is ahead in 2021, improving your home has always been and continues to be a smart way to invest your money.
Conservatories remain the most popular way to extend, and for good reason – they do not usually require planning permission, and are a great way to add value to your property’s market value (some say between 5%-7%!).
With the average value of a detached house in Sheffield currently standing at £289K, a well-built conservatory could increase its value to an impressive £313K (+5%).
Often used as the perfect place to entertain or as an extended dining area, we are now seeing increasing numbers of conservatories being used as uplifting home offices and dynamic home gyms. Light and airy, our conservatories can be used all year round and can be designed to meet your exact needs.
Or, you could opt to upgrade your single-glazed windows to double-glazed windows. Designed to maximise both thermal and security performance, we are confident that upgrading your windows to double-glazing windows from Sheffield Double Glazing will improve your home’s energy efficiency, boost your home’s security, and enhance the visual appearance of your property. A definite value-add!
Our conservatories are available with either uPVC or aluminium frames and are compatible with all our double-glazed windows and doors. This means you can design a conservatory that is not only to your taste but perfectly complements your existing exterior too.
Whether you are looking for a modern lean-to-conservatory for your growing family in Rotherham. Or you would like a period-inspired Victorian or Edwardian style conservatory to complement your heritage home in York, we have plenty of options to choose from!
We even offer tiled roofs, so your new space can replicate a substantial brick extension, rather than a traditionally fully glazed conservatory. Get in touch to discuss your new home extension or call us on 0114 3273433.
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