There is nothing new about loft conversions, with their benefits widely known. From increasing a property’s overall appeal, to increasing its value, to making it a more comfortable place for a family or larger group to live in, there are countless benefits to be had.
Whilst loft conversion projects take place all day, every day across the UK, those living in more urban areas and our cities and towns are more akin to converting lofts than those living in the leafier parts and more rural areas.
This is partially as a result of many urban areas having less land to build on and space to expand into than in the cases of rural residents. Also important though is house and property prices. The major UK cities such as London, Manchester, Birmingham and the like are all seeing general increases in property prices.
With moving property and potentially relocating an entire family a difficult choice, a loft conversion can often provide a far more comfortable solution.
London loft conversions though in particular have gone through the roof, with a recent study showing that around 40% of homes in some boroughs and areas of London have undergone a loft conversion.
This is hardly a surprise though. There are so many opportunities in London in particular to convert a property’s loft, shape and structure. With a multitude of different property types in the capital, there is a lot that can be done with what many may see as an otherwise ‘shabby’ or ‘boring’ property.
In London alone, it is very common to find Victorian properties, terraced homes, semi-detached houses, detached properties and everything in between and more.
Premier Lofts have been offering loft conversions throughout London and the surrounding areas for over 25 years. Contact us to get a free quote for your property.
Stand Out London Boroughs
Some boroughs though certainly stand out from the rest in terms of the numbers of conversions and loft-related project taking place in their geographical areas.
Some examples are as follows:
- City of Westminster – With only around 13,000 houses in total in the entire borough, the City of Westminster has seen around 4 in 10 taking on loft conversions. This amounts to in the region of over 5,000 homes in a single, small borough
- Kensington & Chelsea – The very desirable Borough of Kensington and Chelsea, with around 15,000 eligible houses has seen an uptake of loft conversion projects of around 31%. This amounts to in the region of close to 5,000 homes
- Camden – The hugely popular Borough of Camden is third on the list. Like Kensington and Chelsea, Camden has around 15,000 eligible houses and has seen around 25% of them take on loft conversions
Emerging Property Trends
The trend with London loft conversions is that the areas with the highest house prices, but the fewest numbers of houses and properties have taken on the greatest numbers of loft conversions, whilst the boroughs where there are lower property prices and more properties, the opposite apples.
This makes for interesting reading as surely there is a gap in the market as a result of this. If more houses in the areas, such as Croydon (which came out one of the lowest in terms of the numbers taking on loft conversions) took on loft conversions, could this lead to a further surge in the capital’s property market?
The lowest three boroughs for loft conversions were Croydon, Bromley and Barnet, all of which have high populations and over 80,000 houses each.