London properties could add £1.7bn per month to sales values

Research by Propia (www.propia.co.uk), a company specialising in maximising a property's potential before selling or letting, has found that 74% of properties are not achieving their maximum value.

The research, which uses Land Registry figures on properties sold in London's zones one, two and three, shows that by using local market knowledge, and making home improvements accordingly, vendors can add around £350 per sq ft, equating to an additional £342,380 in value (based on the average property size). With around 5,000 transactions taking place in these locations each month, this is the equivalent of an extra £1.7 billion added to the total sales values per month.

Co-founder and director of Propia, James Wells, comments: We carried out this research to find out if our predictions were correct; that a home which has been finished to a higher standard would achieve more than one that hasn't. The research proves that sellers and landlords could get significantly more if they made the necessary improvements, which is a win-win for both the estate agent and client. Propia works with agents to help property owners understand the dynamics of the market their property sits in and then carefully manages the process to ensure improvements are carried out appropriately, on-time, and on-budget."

Propia uses market research to consult clients on what improvements would be worthwhile, taking an analytical approach to provide a bespoke market report for its clients, in order to advise them on the best way to meet the demand of the local buying and rental markets. If the client wishes to proceed, a full market report is produced with a detailed analysis of how and where value can be added, as well as a priced proposal for the work. Subject to agreement, Propia then implements and manages these improvements for a pre-agreed fixed price. The service includes all design and project management features, including furnishing and home staging to make the property presentable for market.

Propia is looking to expand its network of partners across leading London estate agents. Propia's services ultimately create higher priced properties, which is not only of direct benefit to the client but will positively impact on sales fees. The service also means the property is better prepared for photography and should spend less time on the market.

For further information on Propia, please visit: www.propia.co.uk