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Typical brick town house in Oxford. Oxfordshire England UK

House Values Far Exceed Rebuild Costs

When you buy a house, you do not just purchase the bricks and mortar, but its location and local facilities. In fact, house values far exceed the cost of rebuilding the property itself, with some areas of the UK adding a premium of more than 200 per cent.

According to research from Direct Line SELECT Premier Insurance, the average sale value of a house is £114,000 more than the cost to rebuild it, with factors such as amenities, public transport, and schools making up an additional 41 per cent of its market price, Property Wire revealed.

Londoners spent the most on these additional factors, with the estimated rebuild cost of a three-bed house in the capital coming in at £205,000. However, the average cost of this type of property in the area was found to be £647,571, revealing a premium of 216 per cent.

Nick Brabham, head of SELECT Premier Insurance, said: “Although people may be surprised by the amount of value placed on a property’s qualities beyond bricks and mortar, this analysis shows just how much intangible benefits such as; local amenities, location and transport links add to the price of a property.”

He advised homeowners to make sure to value the rebuild cost of the property accurately to ensure they have the right level of protection for the house.

Those with period features, or properties with recently installed instant boiling water taps and other modern features, will obviously cost more to rebuild to the same standard. Therefore, they should be insured for more in case the house itself becomes damaged and needs to be reconstructed in the future.


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