"While some of the money-losing issues we’ve discovered can be remedied before you place the house on the market, some easily, such as general untidiness and poor upkeep, others with more difficulty such as subsidence and knotweed, the rest are largely out of your control"
- Steve Anderson - Yopa
New research from estate agency Yopa highlights 12 common issues that can reduce a property's market value, with some potentially lowering the price by up to 20%.
The analysis, based on the current average UK house price of £268,319, shows how much value could be lost due to certain conditions or features.
Subsidence, a serious structural issue, tops the list. It can lead to an estimated 20% reduction in value, which equates to around £53,664. Addressing subsidence typically involves significant time and cost, making it a key consideration for buyers.
Japanese Knotweed (pictured), an invasive plant known for its potential to damage buildings and its difficulty to remove, is associated with a 15% decrease in value, or £40,248.
A perhaps less-expected factor is the presence of an old or disused swimming pool. Rather than adding value, these can lower a property's price by 19.6%, or £52,591. This is generally due to the potential costs of removing or renovating the pool.
Nearby infrastructure such as pylons, powerlines, mobile towers and wind turbines can affect desirability and may reduce property values by 14%, or £37,565. Similarly, homes located on flood plains or in areas at high risk of flooding are estimated to see a reduction of 13.6%, or £36,491.
Neighbouring properties in disrepair can reduce a home’s market value by 11% (£29,515), while disruptive or nuisance neighbours may result in a 10% drop (£26,832).
Other factors include general appearance and upkeep. An untidy or overgrown home or garden may lead to a reduction of 8.2% (£22,002). A lack of off-street or convenient parking is estimated to lower value by 6.8% (£18,246), and properties with the number 13 may see a 6% drop (£16,099), likely due to buyer perceptions around unlucky numbers.
Additional reductions may come from living beneath a flight path (5.5%, or £14,758) or close to a power station (5%, or £13,416).
The data outlines a range of considerations for current and prospective homeowners, particularly those preparing a property for sale in today’s market.
“Average house prices are a useful guide when it comes to valuing a property, but in reality your home is only worth as much as someone is willing to pay for it," comments Yopa’s national franchise director, Steve Anderson. "While some of the money-losing issues we’ve discovered can be remedied before you place the house on the market, some easily, such as general untidiness and poor upkeep, others with more difficulty such as subsidence and knotweed, the rest are largely out of your control."
"It’s hard to avoid if you live under a flight path, have pylons located nearby, or, perhaps worst of all, bad neighbours. But it’s nonetheless true that this can severely impact your property value.
He added, "If any of these things apply to your home, when it comes to selling, it’s vital that you do everything you can to present it in the best light possible and hope that buyers fall in love with it so much that they’re willing to overlook any wider issues.
"This means ensuring the house is clean and tidy inside and out, decluttered and bathed in natural light to demonstrate each room’s full potential. If you do all of these things, a good estate agent who knows the local market well should be able to guide you towards achieving a good price."
