Rising house prices and a lack of properties has prompted many homeowners to improve rather than move. And who can blame them? According to the latest Halifax House Price Index, property values took a massive leap in the 12 months to the end of March, rising more than 10 per cent to £214,811.
This is the biggest rise since July 2014. It’s no wonder that homeowners are deciding to improve their own property rather than make do with the lacklustre stock on the market.
But spare a thought for those on the receiving end of an eager neighbour undergoing renovations. As more people decide to make improvements, many could find themselves facing disputes ranging from boundaries to the rise of iceberg basements.
You’ll probably be familiar with arguments over the ownership of a fence or overhanging trees. But in more affluent areas you could be facing the ultimate status addition: an iceberg basement.
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