An additional room adds 44% to a property’s value

Michael Lloyd

October 4, 2019

On average every additional room in a property adds 44% to its value, estate agent comparison site GetAgent has found.

The current average cost of a one-bed is £193,226 climbing 26% to an average of £243,762 for a two-bed property.

Colby Short, founder and chief executive at GetAgent, said: “More space is very sought-after resource particularly in the UK’s more built-up areas and as we reach life’s traditional mile markets, such as marriage and kids, many of us will look to upsize in order to accommodate our growing family.

“Unfortunately, this comes at a cost with the most expensive jump being the move from a two to a three-bed home.

“As a result, many are now choosing to expand their current property potential with a renovation or extension, but this might not necessarily add the value expected.

“Yes, an additional room is a plus and will command a higher price, but the reason we see such notable jumps in value between property thresholds is the overall size of a home, the extra bathrooms, the larger garden, the additional space for hosting guests.

“These are the factors that make a bigger ‘family home’ and command a higher price.”

The popularity of three-bed homes means the price jump between a two and three-bed property is one of the largest at 47%.

Upsizing between a three and four-bed requires an additional 42% in property prices.

The biggest jump is between a four-bed property and a home with five or more bedrooms (62%).

The smallest average increase between the price of a one and two-bed can be found in Blackpool (0.2%).

The two to three-bed jump is at its cheapest in Middlesbrough with a 13% increase.

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