Londoners would rather improve than move

16th May 2014

The number of Londoners choosing to improve their home rather than move has risen by a third in the 12 months to March.

Some 86,816 home owners applied for planning permission to upgrade their space, with basement and loft conversions among the most popular options, according to research by Barbour ABI. “I think this increase is down to the realisation of how much extra value you can add to your property,” says Michael Dall, chief economist at Barbour ABI. “If you look at the economic recovery we have had over the last 12 months, it has largely been driven by consumer confidence. That is being manifested by people spending more on their properties".

Source:   Evening Standard (14/05/2014)