Britons have collectively spent £5.2 billion improving their gardens in the past year which has led to a £22 billion boost for the UK property market, according to new research.
The average Briton has spent £1,280 improving their garden in the past year. It is estimated that these improvements have added an average of nearly £3,300 to the value of their home, according to a study published by Santander Insurance. If you want to invest in your garden but don’t have the means, a good option may be to look into an easy decision personal loan.
The report also reveals that 17 million (39 per cent) Brits have transformed the way they use their outdoor space in recent years; 35% have adapted their gardens into a relaxation area, 11% have made changes to create extra living space and 6% have created a secure parking space.
Another interesting trend released by this study is the growing hobby of creating vegetable patches, with 4.3 million Britons doing it, 28% of the total surveyed.
As the research shows, favourite garden features among British people include garden furniture, owned by 62% of those with a garden, garden sheds (55%), expensive trees, plants and greenhouses (17%) and water features and decking (15%).
“As the property market continues to be challenging, more and more people are choosing to invest in improvements to their current home rather than moving to a new property. Our research shows that Britons are seeking to maximise the value of their entire property by looking beyond interior home improvements and boosting the value of their property by improving the garden area,” said Colin Greenhill, Director of Santander Insurance.
“While spending money on garden improvements can certainly increase the overall value of the property, many garden features are valuable in their own right and don’t benefit from the security that items kept inside the home do, so it’s important to make sure they are adequately insured.”