8 seasonal issues that could knock thousands of the value of your home

THE latest research from estate and lettings agent, Barrows and Forrester, has revealed which autumn related property issues can cut into a home's value and by just how much, as well as looking at the money saved when it comes to the cost of prevention versus cure.

Barrows and Forrester analysed the impact of various seasonal property maintenance problems on a home's value, what this equates to on the current average UK house price of £289,824, as well as the cost incurred when acting proactively to prevent these issues and the money saved as a result.

The research shows that water damage can be the most costly seasonal issue facing home sellers as we head towards winter. Heavy rainfall, living within an area prone to flooding, problems with external and internal drainage and even frozen or blocked pipes and blocked gutters can all lead to water damage within the home.

Watch out for water damage... The research by Barrows and Forrester estimates that water damage can devalue a home to the tune of 16%; that's over £47,000 on the current average UK property.

A lack of other seasonal maintenance tasks can also come at a heavy price: Bad insulation, an old boiler, unsealed or aged windows, or cracks in the walls can take around 14% or £41,000 off the value of a home.

Cost effective solutions... The good news is if you want to avoid the horror of water damage, it's relatively cheap. The cost of a water pipe replacement is £3,000, while you can install a modern garden drainage system for just £875.

This means that if you pay for these preventative measures you could save £43,000 due to your home not incurring any damage.

It's a similar case with maintenance. Sealing a window comes to just £152.50, filling in cracks is around £110, servicing a boiler is £125, and bleeding a radiator is free.

Installing more insulation is the most expensive measure, at around £5,700, but the savings made on the house price and energy bills more than make up for the cost.

The most expensive remedial measure is soundproofing a room, in order to cut out noise pollution. This costs £11,000 to implement, but you could still save £14,000 if you're looking to sell, as high noise pollution is thought to devalue a home to the tune of 9% or almost £26,000.

Swimming pools and all white furnishings... 1 surprising finding is seasonal amenities like swimming pools significantly cut into a home's value if the sale is conducted in the autumn or winter months; you can miss out on £26,000 if you're looking to sell.

Minor home interior choices can also take money off, like all white furnishings and curved ceilings, which can amount to a reduction in the house price of £29,000.

Other minor issues that impact a home's value are evidence of pets and strong odours (£14,000), inefficient heating systems that lead to high energy bills (£17,000), as well as damp or mould (£19,000).

Managing Director of Barrows and Forrester, James Forrester, commented:- "The winter months can prove particularly problematic when it comes to keeping our home in good health and for those looking to sell, this could mean incurring a number of problems that could deter buyers, or at best, cause them to offer less than they may have otherwise. The good news is that the majority of seasonal home seller headaches can be remedied for a fraction of the price for those with a proactive approach. What's particularly interesting is that potential summer selling points, such as a swimming pool, could work against you in the winter, with buyers viewing them as an expensive asset to upkeep rather than a positive addition to the home."

200 entrepreneurs benefit from NPIF microfinance boost

NPIF GC & River Microfinance has injected a total of £13m into 200 ambitious businesses across the North West, as part of their remit to deliver funds on behalf of the Northern Powerhouse Investment Fund (NPIF).

NPIF GC & River Microfinance which is managed by GC Business Finance (GCBF) and River Capital have deployed loans between:- £25,000 and £100,000, into the Region's small business community since 2017.

Alternative finance provider GCBF is responsible for distributing loans to businesses in:- Greater Manchester, Cheshire and Warrington, Lancashire and Cumbria, whilst River Capital is tasked with identifying lending opportunities across the Liverpool City Region.

Recent transactions include the £55,000 loan to Stockport based digital media solutions business 9Ways Digital Media to boost the firm's working capital requirements, and a £35,000 loan to Blackpool based REAX, a specialist access and rescue training business, to bolster its team of specialist training instructors.

GCBF, which is a not for profit organisation, provides vital support to companies at application stage, and works alongside entrepreneurs to guide them on their journey as they scale. It operates using a fintech platform to provide a better experience for entrepreneurs and uses data to check eligibility and make faster decisions.

When looking at the distribution of finance across the local areas from:- GCBF and River Capital, 84 businesses have benefited in:- Greater Manchester, along with:- 45 in Liverpool City Region, 37 in Cheshire and Warrington, 28 in Lancashire and 6 in Cumbria.

Whilst the fund managers operating on behalf of NPIF take a sector agnostic approach to lending, the information and communications sector accounted for 11 per cent of loans, whilst administrative and support services, along with manufacturing both made up 9%.

Paul Breen, Director of GC Business Finance said:- "We've worked hard over the past few years to develop a market leading fintech platform that enables us to distribute loans more quickly and effectively to entrepreneurs in all corners of our Region. We're proud to have supported so many dynamic companies that have huge potential to become leaders in their field as they launch incredible products and services, develop the next generation of talent, and constantly look for new ways to innovate. It's been a pleasure for us to be part of the success created by the Northern Powerhouse agenda and we look forward to continuing our work in this area to help rebalance the economy."

Keira Shepperson, Director at the British Business Bank, said:- "The partnership between the Northern Powerhouse Investment Fund and our fund managers showcases the strength of public private sector collaboration in fostering Regional economic transformation. So many early stage businesses have been underserved when it comes to accessing finance, and we're delighted that GC Business Finance and River Capital have been able to reach this significant milestone to provide a boost to the next generation of entrepreneurs across the North West."

Launched in 2017, NPIF was established by the British Business Bank to address the Regional imbalances in access to finance by providing between:- £25k and £2m in equity, debt and micro finance to northern businesses. It is funded European Regional Development Fund (ERDF), HM Government and the European Investment Bank. British Business Bank will be launching NPIF II in the 1st quarter of 2024

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme:- 2014 to 2020, and the European Investment Bank. For more information visit:- NPIF.Co.UK.