Garden to invest

Saturday, 21 May 2005 6:30 AM

Nearly one person in six views their garden as an investment, new research shows.

While most people see their garden as somewhere to relax, 17 per cent of people spend money in their garden in the hope that it increases the value of their property.

Research by National Savings and Investments (NS&I) shows that one in five Brits is prepared to part with their hard earned savings for the sake of improving their garden, while one in ten are prepared to go into debt to do so.

"Gardens play a hugely important role in selling homes and can add significant value to a property. Our research shows that well tended front gardens are the most important factor that attract buyers to a street. Back gardens are even more important," said Nicholas Leeming, director of propertyfinder.com.

"Simply having a garden can enhance an average property's value by perhaps up to 15% as a rule of thumb. As always, the closer matched the style of garden is to your target market, the quicker you can expect to sell and the more money you can bank on raising."

For nearly 60 per cent of people, spending money on the garden is about creating a relaxing space for the family, while 57 per cent spend on the garden for themselves.

On average people spend £217 a year on their gardens, buying new plants, garden furniture and landscaping.

But it is not just homeowners who appreciate their little piece of the outdoors, with those living in rented accommodation spending an average of £155 a year.

One third of people spend money on their garden to encourage wildlife, while for others it is down to a sense of duty (16 per cent) or to impress neighbours (four per cent).

Tags:
• uk property news