There’s no sign of lofts losing popularity any time soon, with more and more house-owners choosing to “move up” rather than move house. This is especially the case around London and the South East of England, where property prices often make a move to a bigger house impossible.
Property prices in the fashionable parts of London are stable right now, it’s outer London and the commuter belt where values are rising. People in these areas want good transport links, good schools and a good return on their investment. It’s this last reason that makes loft conversions so popular – they add up to a third more living space to a house for a fraction of the cost of moving. The average loft conversion in Muswell Hill costs £40,000, whereas moving from a three to a four-bedroomed house can cost three times as much.
Latest trends in loft conversions
Fashions come and go in the loft conversion market, but a definite grower is the eco-friendly conversion, as people aim to add environmental as well as financial value to their homes. Let’s have a look at some other popular trends for 2016.
Environmentally-conscious loft conversions
It’s great news that oil and gas prices are at their lowest in years and look set to drop even further, but people still want more green energy and efficiency in their homes. People understand that these fossil fuels aren’t going to last for ever and so are choosing to future-proof their homes in any way they can. They also want to be as efficient as possible.
In the UK, electricity is generated from coal, gas or oil (although oil accounts for only around 1% of the nation’s power). Gas and electricity are also the main means of heating the UK’s homes and the fact that a quarter of a home’s heat is lost through the roof and loft shows how much energy is being wasted. Turning a loft space into an insulated living space isn’t just good for the family, it’s good for the planet.
Making a loft work for the planet
From 2016 onwards, more and more loft conversions will involve solar panels and solar water heaters, as well as eco-friendly building materials and thermal efficiency measures like effective insulation.
More lofts will become dwellings
A combination of high tuition fees, high rents and a competitive job market means that more and more millennials are staying with their parents for longer or coming home after university to save for a house deposit. In the 1970s just under half of the 18-34 age group was married and living in their own homes; now it’s just one-fifth. This means that home extensions and loft conversions will increasingly need to ensure that adult children will have independence and privacy while living with the ‘rents.
All mod cons
There will be more loft conversions built that include kitchens and bathrooms as well as living spaces so that cash-strapped millennials aren’t under their parents’ feet as they try to find their own.