Why a Conservatory Will Add Value to Your Home – Survey Results
HSBC and AMA Research have both recently published surveys looking at the home improvement sector and conservatory market in the UK.
“Domestic Conservatory Market Report – UK 2012-2016”, produced by AMA Research, reports on a fall in conservatory sales over the last 7 or so years. This is in line with the performance of the economy as a whole over the same period, so is perhaps not a surprising statistic.
In contrast, the Home Improvement Survey from HSBC reports more positively on the benefit to the value of your property of adding a conservatory (get quotes here: compareconservatorycost.co.uk
AMA’s report reflects the drop in consumer confidence in response to the contraction in the economy, with people being less likely to make such an investment in their property at the moment. This is mirrored by the slow down in the property market in general, with far fewer house sales and falling property prices over the same period.
However, AMA also has some positive news to report in terms of the behaviour of the consumers who are investing in conservatories. Their research indicates that these people are becoming much more sophisticated in their requirements. They are demanding increasing levels of quality and service when choosing a conservatory or orangery.
This is against a backdrop of wider choice in terms of design, style and colour, whether in the most prevalent uPVC, or wood or niche aluminium structures. This response is only to be expected as consumers are becoming increasingly careful about how they choose to spend their money, measured alongside their expectations on the quality of service and product.
Lying alongside AMA’s research, is HSBC’s latest Home Improvement Survey which looks at how consumers are investing in major home improvements and what kind of a return they are getting (or are likely to get) from their investment. The surprising findings are that out of all the areas covered – including new kitchens, bathrooms, loft conversions or room extensions – conservatories are the only aspect which has increased its relative ROI, by an impressive 14% since 2011. Adding a conservatory to your home will increase its value by an average of £9,420, which is quite impressive given the current market.
Taking the two surveys together, the conclusion would seem to be that if you are considering selling your home, or are simply keen to improve its overall value, then adding a high quality conservatory or orangery is likely to be the best way of achieving it.