Home improvement applications rise nationwide
Published: 1 September 2015
Home improvement across England reached a record 417,000 planning applications between March 2014 and March 2015, up 18% over the same period 2011/2012.
However, the latest home improvement figures, compiled by construction data specialist Barbour ABI, also point up a home-improver north/south divide.
There were increases across all regions of England, but it was southern England that made the biggest jump, with Greater London increasing applications by as much as 35%.
Commenting on the figures, Barbour ABI lead economist Michael Dall said: "With personal equity and income increasing, homeowners are getting more of an opportunity to improve their property investments to add significant value. However, this varies across the country at different ends of the scale.
"For example it's predicted that over the next five years London house prices could rise by almost 30%, which makes it more logical for landlords and homeowners to add further equity to their investments."
He said that in the northern regions of England house prices were continuing to grow, but were in stark contrast to the south.
"Thousands of pre-recession buyers have found themselves in negative equity due to the record high house prices pre-2007, alongside not benefiting from the rapid house price growth many southern regions have recently experienced.
"Overall as a country, homeowners are increasingly choosing to improve and extend their properties. It can be debated that this is due to increased income, negative equity or even a lack of new housing available."