The number of loft conversions has also risen dramatically, according to mortgage lender Halifax, in a bid to circumvent a soaring property market. Henry Pryor, a London-based property agent, said that with the cost of climbing the property ladder now so eye-watering, many people were doing whatever they could to improve properties rather than move. It said the number of planning applications for basement conversions totalled 3,064 in 2016, compared with 1,084 in 2012. The top 16 local authorities for basement planning applications were all London boroughs, said the bank. Meanwhile, the number of planning applications for loft conversions has climbed from 34,822 in 2012 to 49,649 in 2016.

Source: The Guardian August 23, 2017 04:52 UTC