Bathroom and kitchen improvement ''combat price fall''

17/06/2008

Investment in kitchen and bathroom renovations could help homeowners to combat any falls in house prices, a property magazine editor has suggested.

In comments which may interest those thinking of fitting a Duchy shower enclosure, Jason Orme, editor of Homebuilding & Renovating Magazine said now is a good time to carry out improvements to a house to add value.

Mr Orme also noted the cost of material and labour could increase as demand rises, but claimed this was not the major element of spending when carrying out home improvements.

"While raw materials tend to be quite a significant part, by far the most significant part of renovation costs is the finishing goods - things like kitchens, bathrooms, flooring, windows - that's what people really spend their money on," he commented.

A report by Nationwide in May 2008 found that the average price of a house in the UK had fallen for the seventh month in a row.

It revealed the average home cost £173,583, a fall of 2.5 per cent since April and a 4.4 per cent decrease on the previous year.