We’ve all stared wide-eyed at the TV during Grand Designs as Kevin McCloud guffaws at another high-risky building project.
But it’s all worth it, according to estate agent The Modern House, which says well-designed homes sell for 12% more than their more pedestrian neighbours.
The research, completed with the help of property price analytics firm Dataloft, looked at 200 properties sold by the agent in London between 2014 and 2017.
It then benchmarked them against 14,000 similar properties in the same postcodes using price per sq ft as a comparison, rather than number of bedrooms.
The Modern House says design-led houses sold for between 10% and 16% more during the four years it analysed, across all price ranges.
But design-led houses worth more than £1 million sold at a 19% premium, while less expensive properties sold for 10% more, on average.
The Modern House unsurprisingly claims the uplift is partly to do with being marketed by a specialist agent, but concedes that “it is difficult to compare apples with apples in the property market”.
But the agent does say that its research provides “robust and scientific evidence” that Grand Designs type homes sell for more.
“People have always been prepared to pay a premium if they perceive something to be of superior quality,” says Albert Hill, co-founder of The Modern House (pictured).
“Design is a real differentiator for today’s home buyers and they are prepared to dig deep if they can see design having a tangible impact on their lifestyle.
“More than ever, people are looking for transformative experiences and so the enthusiasm for investing in a great home space is not surprising.”