Housing boom in central London

15.05.2006 In the past year the price of housing in exclusive parts of London has increased by as much as 14.7 per cent. According to the agent, Knight Frank, the cost of a two-bedroom flat in Chelsea is about £500,000, and the area has seen prices rise by 11.8 per cent in the past four months alone.
According to the agency the balance between supply and demand for London’s most upmarket homes is at its most lopsided in a decade. In the last year supply has fallen by 21 per cent and demand has risen by 43 per cent. The mini-boom has contributed to an overall increase in the average cost of a house in the UK, which has risen by two per cent in the past month according Halifax.

Halifax’s chief economist, Martin Ellis, commented; “A fair amount of that growth has come from London and the south-east; people are investing substantial sums in that market”.
The rise in prices in central London has come after four years of subdued growth, however Liam Bailey, head of research at Knight Frank has said the boom is unsustainable in the medium term.

Gardening can boost house prices by £8,600
According to a survey recently carried out by MasterCard, keeping your garden tidy could add thousands to the value of your house.The company has claimed that last year home-movers could have boosted the value of their properties by £5.9billion collectively, or £8600 individually for ensuring outside spaces were well tended. Although half of Britons consider themselves gardeners, many people moving do not think of presenting their gardens as well as they could.
Television gardener Diarmuid Gavin commented on the impact of gardening; "Gardens are becoming an increasingly important part of the home and as such, their value is also increasing." 
The research has shown that for every £100 spent on a garden, a house’s selling price could potentially increase by £350, and adding particular improvements could raise the value even further.
Having a well-landscaped garden can raise the selling price by as much as £6,200, and decking can add up to £2,500. Other ways to liven up gardens can include water features, which are estimated to add £1,495 and patio areas, which add around £2,500.
If you don’t want to cash out on new improvements you can make your existing garden look fresher by mowing the lawn regularly, clearing away any rubbish and trimming hedges and borders.