The one addition outside your home that immediately 'adds £27k' to your house price

Homeowners have been told that adding one thing to their house can add £27,000 to its value. Digital car finance lender Carmoola has revealed that the one thing that househunters consider an absolute must-have.

There are almost 34 million licensed cars on UK roads - a figure climbing year on year, with zero emission vehicle registrations increasing 37% in the past 12 months. But Brits are increasingly left wondering where to park their prized motors. Jamie Lester, head of Haus Properties and named 'Britain's Best Estate Agent', has said that parking specifically impacts the housing market, saying a parking space adds around 10% to a home's value - on average around £26,900. He added: "We've seen time and again that parking directly affects value and how long a home stays on the market. I've had homes that could have sold ten times over if only they had parking - it's a dealbreaker for many buyers in the UK."

Lester said that family homes are the worst affected, with those lacking a driveway often spending twice as long on the market compared to similar properties with parking: "While buyers in dense city centres may accept the lack of a space, demand rises sharply in suburban and rural areas, where a driveway or allocated parking spot can make all the difference. In many cases, homes with parking sell twice as quickly as those without."

Lester said that parking is one of the top non-negotiables for buyers, alongside garden space and good transport links. For many families, especially those outside of cities, homes without parking are at a real disadvantage.

The estate agent added that having an electric vehicle charging point can add even more value to your home: "A driveway isn't just somewhere to leave the car - it's now as integral to daily life as a plug socket is for a phone.

"It's fast becoming a genuine selling point, with access and set-up adding around £2,000 to a property's value on its own and, for those with EVs, it's a non-negotiable when house-hunting."

He said if you don't have guaranteed parking, services like short-term rental apps can give potential buyers peace of mind that they'll have somewhere secure to park, which can make your home more competitive.

For those renting out their homes (19% of UK homes are rented), Oliver Karamouzis of Michael Graham Young said a parking space can increase the value of the property.

He said: "Not only does parking typically make a property more appealing to applicants, but parking spaces in and around city centres can add up to £150pcm in value.

"Occupiers are becoming increasingly aware of the worth of these spaces and, while we have no direct involvement, we know that some choose to rent out private parking spaces on third-party apps as 'side hustles' for additional income."