The one thing that can add £52k to the price of your house.
there are many things that people look at before making an informed decision.
However, .
And, the one thing that could make the price go up is a driveway.
According to data from estate agents , a driveway could boost the value of your property by as much as 10%, with London homeowners potentially adding up to £52,559 to their home’s worth.
The benefit of having private parking is especially noticeable in larger cities where spaces are limited, making driveways a desirable feature, reports.
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A driveway could boost the value of a property by as much as 10%.
In , where the average house price is £525,586, a driveway could increase the value by between £26,279 and £52,559, the research revealed.
Other regions also see a significant uplift, with driveways adding up to £42,664 in Brighton, £35,421 in Bristol, and £34,684 in Edinburgh.
Outside major cities, the estimated added value varies. For example, in the South East, a driveway could add between £19,155 and £38,310, while in Yorkshire and the Humber, it might increase the value by up to £21,544.
Even in areas with lower house prices, such as the North East, a driveway can add between £8,532 and £17,064.
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The benefit of having private parking is especially noticeable in larger cities.
Estate agents have pointed to several factors influencing the added value of a driveway.
These include the availability of free parking locally, the cost of parking permits, and the overall demand for off-street parking in the area.
Kesha Foss-Smith, area director at , told Sky News: “In bigger cities like London, this figure would be greater – not only because house prices tend to be higher, but also because car parking spaces are scarce and driveways are more valuable.”
She added that the aesthetic appeal of a driveway also matters. “Materials like block paving or resin-bound surfaces enhance the durability and aesthetic appeal of a driveway, so they are common materials to choose,” she said.
What’s more, with the rise of , the practicality of having a home charging point is adding even more appeal to driveways.
Over 29,800 electric cars were sold in the UK in October this year – a 25% increase compared to the same time last year, according to the Society of Motor Manufacturers and Traders.
Toby Leak, from the estate agent organisation Propertymark, said: “With the move to electric vehicles, it certainly makes it easier to transition if you have a private drive where you can add a charging point, so this will likely see an increase in demand.”
Ms Foss-Smith agreed, suggesting that installing a charging point is a smart investment for homeowners.
“Having charging points installed on your driveway could be another nice way to bump up the value of your home by a few thousand pounds,” she said.