“Families are increasingly choosing to dig basement extensions as the cost of moving rises”, writes Anna Mikhailova of The Times this week.
Black Brick’s Partner, Caspar Harvard-Walls offered his thoughts for the article, sharing his insight as a top buying agent for London luxury property.
“In central London, the square footage value ofbasements is now treated as the same as the rest of the property. Outside of these areas, values are treated differently — historically, agents valued basement space at approximately 50% less than upper floors, but this is starting to change. Basement excavations can affect the values of a street — a successful sale can bring prices up to a new level.”, he said.
Read the full article here.