People will 'pay a premium' for garden space - buy to let mortgages

08 September 2008

More people in Britain are using gardens as a way to add value to their properties, it has been claimed.

The head of retail at Yorkshire Bank, Gary Lumby, said that people are willing to pay a premium for outdoor space.

In advice that could apply to those with buy to let mortgages, he added: "Our research shows that Brits value their outdoor space - and are willing to pay for the satisfaction they get from having their very own green and pleasant land."

Research by the company showed that 90 per cent of those with gardens use it at least once a week.

Providing an area to hang out washing was named as the most popular use for a garden. Space for socialising and for children to play in came second and third respectively.

In a recent survey by Legal & General, 42 per cent of those questioned spent between £1 and £1,000 on plants, garden tools, garden furniture, or home improvements in June.