'Key improvements' could benefit investors

Property investors have been advised to carry out key improvements as a matter of priority in order to maximise potential profit.

Taking care of issues such as damp problems and adding central heating will "always pay back more than they cost", according to one expert.

Michael Holmes, presenter of I Own Britain's Best Home, told visitors to the Homebuilding and Renovating Show in Harrogate over the weekend that these essential repairs should always be carried out first when improving a property.

Mr Holmes also claimed that three to five per cent could be added to a property's value just by improving its appearance.

"Having a property that looks very unfashionable [and] very dated will drag down its value," he said.

"Just improving the exterior – maybe just tidying up the garden, repainting the windows, replacing the garage door – and giving it a bit of an external transformation can significantly enhance the value of a property by broadening its appeal to more people."

The advice follows figures released by the Land Registry last which showed house prices in England and Wales have fallen by 5.6 per cent in the past year.

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