It’s not perfected yet
Falling house prices means that home improvements such as a new kitchen or a loft conversion are a waste of money.
Declining house prices mean that other, previously profitable improvements, such as extensions and new kitchens are now expected to result in negative “net value added” of between minus £13,806 and minus £20,232.
That is they will cost more to implement than they will end up adding to the value of the home. The research undertaken by Abbey showed that estate agents believe that the vast majority of home improvements are now unlikely to add more value to a property than the homeowner spends on the upgrade.
