Developers looking to bring renovated and converted properties to market need to ensure any damp problems are resolved first, as a new survey reveals that damp in properties not only deters would-be homebuyers from purchasing at all, it could also reduce a home’s selling value by up to 20%.
These are the findings of a recent survey by YouGov, commissioned by damp-proofing experts Safeguard Europe. YouGov spoke to around 1,300 homeowners, discovering that 91% of them would be discouraged from making an offer should they discover damp of any kind in a home for sale. Damp was by far the biggest deterrent, ahead of small rooms (70%), unwanted odours (56%) and an overgrown garden (22%).
Asked what they would do should damp be discovered after they had made an initial offer, 42% of homeowners said that they would abandon the purchase altogether, with 48% saying that they would reduce their offer, over one third of those by up to 20%.
With an average UK house price of around £214,000, this would equate to over £42,000. Regionally, this average 20% reduction in offer would be:
- North and north east (North Yorkshire, Tyne & Wear and Durham): £29,000.
- North west (Lancashire, Merseyside and Greater Manchester): £28,000
- Midlands (Warwickshire, Worcestershire, West Midlands): £40,000.
- South west (Devon, Cornwall and Somerset): £43,000.
- South (Hampshire, West Sussex, Surrey): £69,000.
- Scotland (Fife, Stirling, Perth & Kinross): £31,000.
- Wales: (Caerphilly, Cardiff and Vale of Glamorgan): £34,000.
The survey also revealed how common damp in homes is. Nearly half of the homeowners surveyed (48%) said that they had lived in homes with a damp problem. YouGov also surveyed over 700 renters and found that amongst this group the proportion was even higher, at 52%.
Damp in homes can have a negative effect on health, comfort and family finances. Damp walls are also less effective insulators, allowing heat to escape faster. And according to the NHS**, damp and mould increases the likelihood of respiratory infections, allergies and asthma, particularly in the very young and the very old.
However, dealing with damp is often not as difficult or time-consuming as many people imagine. “The survey demonstrates that most people see damp as a huge problem, but that doesn’t have to be the case,” says Safeguard Director Hudson Lambert. “With the right knowledge and the right products, damp can be tackled successfully and much more easily and quickly than people think.”
Given the potential impact on house prices and the likelihood that damp will increase the time a house is on the market, Safeguard’s advice to sellers would be to address problems with damp properly before putting a home up for sale. The implicit finding of the survey is that investing in remedial works now would lead to a better price and less time on the market in future.
Safeguard Europe’s range of market-leading, proven damp-proofing solutions is supported by the company’s own highly qualified and experienced staff. The support and know-how they offer is extended to contractors, specifiers and property owners and includes technical advice, specification help, research and even in-house laboratory analysis of plaster and masonry.