Trading up to 4-beds costs £150,000

9th May 2014

New research from Savills suggests that the average cost of upgrading from a three-bedroomed to a four-bedroomed house has reached £146,183.

In the capital, a four-bedroom house costs £315,756 more than a three-bedroom property, and in the southeast outside London the figure is £176,330. The research, conducted by Savills using data from Rightmove, showed the regions with the lowest increases in price were the North East and Scotland, where moving up to four bedrooms costs £111,291 and £110,766 respectively. Savills’ Lucian Cook said a scarcity of four-bedroom homes and a clampdown on mortgage lending were driving up prices.

Source:   The Sunday Times (04/05/14)