Latest news with #propertyvalue
The Independent
4 days ago
- Business
- The Independent
The cost of home renovations has become a lot cheaper
Analysis by the Checkatrade Home Improvement Index reveals that the typical costs for various home renovations have decreased in recent months. Significant price drops have been observed for bathroom, kitchen, and bedroom fittings, with average costs falling in the second quarter of this year. Other home improvement services, including painting and decorating, window and door fitting, and plastering, have also seen price reductions. Checkatrade attributes these falling prices primarily to a reduction in material costs, indicating a return to more typical market levels. Air conditioning prices have also recently fallen, with data suggesting that installing air conditioning could increase a property 's value.
The Sun
4 days ago
- Business
- The Sun
How to boost your home's value by £30k by spending just £1k in the garden – and the mistakes sabotaging your sale
YOU may think your garden is charming, but it could be secretly slashing the value of your home by up to £100k. Thankfully, it's easy to fix - and here we reveal how investing as little as £1,000 can boost the value by £58,200 in 10 fail-safe ways. 10 Robin Edwards, property buying agent from Curetons, tells Fabulous: 'In urban areas where outdoor space is limited, a beautifully presented garden can be a major selling point. 'A simple, well-kept lawn with defined seating areas often appeals to buyers more than an overcomplicated or high-maintenance design. 'Investing as little as £1,000 to £2,500 in tidying up green spaces and adding attractive features can add between 5 per cent and 20 per cent to a home's value, depending on its size, location and quality of design. 'That means with the average UK house price being £291,000, you could add as much as £58,200 with a garden refresh.' Here's how your outdoor space can not only be a source of zen, but also a source of big profit…. A lick of outside paint - £13k-26k increase Cost to you: from £10 10 10 By sprucing up your front door and window frames with a lick of paint, at a small cost from only £10 per tin, you can transform the front of your home. Luke Saywell, partner at Nottinghamshire family estate agents Gascoines, said: 'A fresh look to the outside of your home can add thousands through enhancing its kerb appeal. Meanwhile, if your garden is currently overrun with old furniture and clutter, it's time to have a good clear out before getting your property valued. Experts at Space Station shared: 'If your outdoor space has a garden shed, this is a great place to start; empty out the shed and remove, donate, sell or store unused items to help free up needed space.' Improving storage – £4k increase Cost to you: £500 Storage throughout a property is essential for many buyers but it's important not to neglect the exterior space too. When adding storage, making sure it is proportionate to your space is important. The property expert advised: 'Not everyone will have lots of gardening tools to store in a large shed, but having somewhere to store extra times makes buyers feel like they have the full package – a great garden and somewhere to store the accessories. 'Sheds come in many shapes and sizes, including slimline for those smaller outdoor spaces, or outdoor utility chests are an equally cheap and effective solution. 'If your household bins need to be kept in your garden, a bin store also helps to make it more aesthetically appealing.' Add £20k to your house value with these budget hacks Well-tidied gardens – £3k increase Cost to you: Free A well-kept garden is appealing to buyers as they don't see it as another job to be responsible for when they move in on top of the house. 10 A garden is a place for many to retreat in the sunshine and un-mowed lawns, overgrown weeds and general clutter you've been meaning to take to the tip can all leave a buyer looking to knock off money. Luke reassured: 'Fortunately, these jobs are nice and cheap for homeowners to rectify. "Registering at your local tip is free, pulling out the weeds just needs some elbow grease, and a general tidy only requires a bit of time and a broom.' Install an all weather pergola - £10k increase Cost to you: from £300 10 Modern buyers love outdoor spaces that can be enjoyed all year round. An aluminium pergola with electric louvres and side screens creates a stylish, flexible area for entertaining and relaxing, whatever the weather. It also doesn't need to break the bank to install, and we previously shared how one woman did it for £300 with one from Ikea. Luke Newnes, new build gardening specialist, added that it's a standout feature that adds both practicality and wow factor. And the bigger jobs for anyone feeling ambitious.... Removing large trees - £5k increase Cost to you: £1,500 10 Not all large trees need to be removed as some provide essential privacy and others offer nice shade. However, depending on the size of the outdoor space, removing large trees can showcase just how much garden is on offer. The property developer shared: 'Many buyers are put off by the maintenance required in large trees, and fruit trees in particular aren't appealing as the dropped fruit can go mouldy and requires cleaning up. 'While investing in a tree surgeon to do the job properly isn't cheap, the larger space can increase the price people are willing to pay significantly. 'Equally, removing trees outside helps to open up the space inside as it's brighter and lighter.' Replacing low fences – £3k increase Cost to you: £1,800 10 Privacy is a huge factor for many homebuyers and that doesn't just mean location. Having an outdoor space that isn't overlooked by immediate neighbours on any side is important, especially for families who like to spend a lot of time outside. Luke explained: 'Fencing at the rear of a property can be a maximum of 6.5 feet but often homeowners have fences as low as three or four feet meaning you're much more likely to feel overlooked. 'If you already have the fence posts installed, replacing the panels for taller ones can be as cheap at £30-40 at DIY stores but can make the difference between securing a higher price from a buyer.' WAYS TO LOWER THE VALUE Artificial lawn – £7.5k decrease We previously shared how gardens filled with a faux lawn or plastic plants may seem like a time-saving idea but devalue homes by up to £7,500. Luke agreed, saying: 'Artificial lawns can really divide opinion among buyers. 'Some people see them as a low maintenance option while others prefer a traditional lawn that invites nature into the garden. 'On balance, we wouldn't recommend that anyone considering selling their property invests in an artificial lawn to attract buyers, and instead spends on other improvements to encourage a sale. However, if a seller already has an artificial lawn, it can be considered a bonus among certain buyer groups, such as families, as they often find it more practical with children.' Elaborate water features - £8k decrease 10 Water features can be appealing if they are simple and easy to maintain, but overly elaborate installations may deter buyers. Despite them helping to attract bees, butterflies and birds, some see water features as more work to maintain. John Graham, owner of Dwell Estate and Letting Agents, advised that they can even negatively affect your property value by between £2,000 and £8,000. High maintenance features – £2k-10k decrease Every home is unique and it's great to add features to a house that you enjoy as an owner, but when it comes to selling a property, buyers have to be able to see themselves living in it. One way that sellers can devalue their home is by having high maintenance features that can really turn a buyer off. Luke advised how this could include ponds, swimming pools, agas, thatched roofs or other period features. He explained: 'If people believe a certain feature will require long-term maintenance and it's not something particularly desirable to them, they may want to reduce the price as maintenance often means money.' Shared private drive: £2k-10k decrease A shared private drive can create indecision for buyers who may not be familiar with using one and what is required on their part in terms of maintenance. Luke shared: 'A poor condition shared drive could be extra off-putting if the responsibilities to maintain it aren't clear and you don't have strong relationships with the neighbours included, leading to a more reluctant bid being placed.'
Daily Telegraph
14-07-2025
- Business
- Daily Telegraph
Value growth can access better home loan rates
ANALYSIS When you apply for a home loan, there are various factors that will determine what interest rate lenders may offer you. One factor you might be able to leverage to negotiate your rate is your property value. As property values climb to new record highs, an increasing number of borrowers may be able to use their property value and loan-to-value ratio (LVR) to get a better deal on their home loan. The latest PropTrack Home Price data reveals there are 88 regions around the country where property prices have risen over the last year. The top five regions for annual growth nationally are: Townsville – 18.70 per cent Western Australia – Wheat Belt – 15.89 per cent Mackay – Isaac – Whitsunday – 14.98 per cent Central Queensland – 14.72 per cent Barossa – Yorke – Mid North – 14.39 per cent How does LVR work? Your LVR represents the debt owed on a property compared to the value of the property. If you've been paying down your home loan – especially in an area where property prices have risen – your LVR has likely lowered, and you might be able to use your new LVR to negotiate a better interest rate. When you work with a mortgage broker to access a more competitive home loan interest rate, the broker will compare what's on offer with different lenders. Given different lenders may value the same property at a different amount, this can lead to real savings for borrowers. For example, with a loan size of $550,000: Lender A values your property at $610,000 (90.16 per cent LVR) Lender offers you a 6 per cent p.a variable rate Lender B values your property at $650,000 (84.62 per cent LVR) Lender offers you a 5.84 per cent p.a variable rate Lender C values your property at $696,202 (79 per cent LVR) Lender offers you a 5.49 per cent p.a variable rate That's a difference of $2136 a year in home loan repayments between lender A and lender C. his translates to about $64,000 over the life of the loan. So, how do I know if my LVR has changed? In addition to making a dent on your loan, if you've made home improvements or renovations, or your property is in a high-growth region, you may have moved into a new LVR tier. A mortgage broker can help you take all these factors into account to calculate your current LVR and compare your current home loan against what's in market to see if you can access a more competitive home loan interest rate. Top growth per region The latest PropTrack Home Price data reveals the regions where property prices have risen over the last year. NSW: Far West and Orana – 10.08 per cent Hunter Valley exc Newcastle – 7.20 per cent Murray – 6.91 per cent New England and North West – 6.17 per cent Sydney – South West – 5.72 per cent QLD: Townsville – 18.70 per cent Mackay, Isaac, Whitsunday – 15.89 per cent Central Queensland – 14.98 per cent Toowoomba – 13.01 per cent Ipswich – 11.36 per cent SA: Barossa – Yorke – Mid North – 14.39 per cent South Australia – Outback – 12.65 per cent South Australia – South East – 12.18 per cent Adelaide – North – 11.30 per cent Adelaide – South – 10.93 per cent VIC: Bendigo – 3.14 per cent Ballarat – 3.10 per cent Shepparton – 2.87 per cent Melbourne – North West – 2.67 per cent Warrnambool and South West – 2.35 per cent TAS: Hobart – 2.34 per cent Anthony Waldron is Mortgage Choice CEO.
News.com.au
14-07-2025
- Business
- News.com.au
Value growth can access better home loan rates
ANALYSIS When you apply for a home loan, there are various factors that will determine what interest rate lenders may offer you. One factor you might be able to leverage to negotiate your rate is your property value. As property values climb to new record highs, an increasing number of borrowers may be able to use their property value and loan-to-value ratio (LVR) to get a better deal on their home loan. The latest PropTrack Home Price data reveals there are 88 regions around the country where property prices have risen over the last year. The top five regions for annual growth nationally are: Townsville – 18.70 per cent Western Australia - Wheat Belt – 15.89 per cent Mackay - Isaac – Whitsunday – 14.98 per cent Central Queensland – 14.72 per cent Barossa - Yorke - Mid North – 14.39 per cent How does LVR work? Your LVR represents the debt owed on a property compared to the value of the property. If you've been paying down your home loan – especially in an area where property prices have risen – your LVR has likely lowered, and you might be able to use your new LVR to negotiate a better interest rate. When you work with a mortgage broker to access a more competitive home loan interest rate, the broker will compare what's on offer with different lenders. Given different lenders may value the same property at a different amount, this can lead to real savings for borrowers. For example, with a loan size of $550,000: Lender A values your property at $610,000 (90.16 per cent LVR) Lender offers you a 6 per cent p.a variable rate Lender B values your property at $650,000 (84.62 per cent LVR) Lender offers you a 5.84 per cent p.a variable rate Lender C values your property at $696,202 (79 per cent LVR) Lender offers you a 5.49 per cent p.a variable rate That's a difference of $2136 a year in home loan repayments between lender A and lender C. his translates to about $64,000 over the life of the loan. So, how do I know if my LVR has changed? In addition to making a dent on your loan, if you've made home improvements or renovations, or your property is in a high-growth region, you may have moved into a new LVR tier. A mortgage broker can help you take all these factors into account to calculate your current LVR and compare your current home loan against what's in market to see if you can access a more competitive home loan interest rate. Top growth per region The latest PropTrack Home Price data reveals the regions where property prices have risen over the last year. NSW: Far West and Orana – 10.08 per cent Hunter Valley exc Newcastle – 7.20 per cent Murray – 6.91 per cent New England and North West – 6.17 per cent Sydney - South West – 5.72 per cent QLD: Townsville – 18.70 per cent Mackay, Isaac, Whitsunday – 15.89 per cent Central Queensland – 14.98 per cent Toowoomba – 13.01 per cent Ipswich – 11.36 per cent SA: Barossa - Yorke - Mid North – 14.39 per cent South Australia – Outback – 12.65 per cent South Australia - South East – 12.18 per cent Adelaide – North – 11.30 per cent Adelaide – South – 10.93 per cent VIC: Bendigo – 3.14 per cent Ballarat – 3.10 per cent Shepparton – 2.87 per cent Melbourne – North West – 2.67 per cent Warrnambool and South West – 2.35 per cent TAS: Hobart – 2.34 per cent
Yahoo
10-07-2025
- Business
- Yahoo
Tenant challenges Lancium AI facility property value
ABILENE, Texas () – A tenant at the Lancium AI facility, also known as Stargate, being built in far northern Abilene, is protesting the property value of the site. Abilene City Council weighs large tax abatement for Lancium Taylor County Commissioners listened to the details during Taylor County Budget hearings that began this week. Taylor County estimated to see $18 million/year windfall from Lancium AI project According to the county auditor's office, the initial new property value came in at $930 million, significantly more than in a normal year. $560 million of that was based on the Lancium property, which translates into approximately $1.9 million in revenue for the county. Abilene's Lancium project: Progress & solutions for community concerns These are preliminary numbers until the Taylor County Central Appraisal District certifies values by the 25th of this month. When the values do come in, the Lancium property will be taxed at 100% until the property is fully operational. After that, Lancium has received an 80% tax abatement from the City of Abilene. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
