Tackling damp and mould could boost property value by up to 20%

A recent study courtesy of energy supplier, Utilita Energy, has revealed that almost a fifth of UK adults have found mould in their property – while 21% were experiencing issues of damp.

During a cost-of-living squeeze which has seen energy bills soar, 42% of UK adults reduced the amount they heated their home over the winter – further exacerbating issues around damp and mould.

A study from social care, housing, and development company, Allerton, also highlighted that, on average, issues of damp and mould can knock 20% off the value of a property. In some extreme cases, the value of a property could be halved by up to 53%.

New data from property technology company iPlace Global (iplaceglobal.com) now reveals that more than one in four (27%) Brits ignore minor faults in their home because they do not consider them a priority.

With condensation being the leading cause of damp and mould in houses across the UK during colder weather, CEO and founder Simon Bath advises homeowners to take preventative steps to tackle it.

Some instances require simple and quick solutions, such as a moisture absorber or improving ventilation. However, damp proofing and effective insulation can be great cost-effective ways to preventing long-term condensation issues.

While larger structural issues such as damp proofing and improving insulation can seem costly up front, it is an investment worth making simply because dampness in a property is a huge deterrent to potential buyers.

“If you discover mould or damp in your home, it’s not just a cosmetic issue as it can also affect your health and decrease your home boydens.co.uk value significantly,” explains Simon. “This can deter buyers if you’re looking to sell and put further strain on finances, especially with the current economic landscape.

‘’Our data highlights that Brits are largely ignoring faults in their homes because they don’t consider them a priority. On average, households can expect to pay anywhere from a few hundred to several thousand pounds to fix dampness... depending on the severity of the problem and the solutions that are needed – so it’s important to nip these issues in the bud to save costs in the long run.

‘’Those looking to sell soon should tackle these problems as soon as they arise. This can add up to 20 per cent to the value of your home in a time when many are in need of a much-needed boost to their bank accounts,” he adds.