Research conducted by insurance provider Privilege Home Insurance reveals the extensive cost of home improvements efforts undermining years of steady property market growth.

One-fifth of DIY efforts take value off a property rather than add it, according to the survey.

But it is colour schemes which are the most devastating dampening factor on a house’s value, knocking an average of GBP1,392 off each house in the UK.

Red and orange are the worst colours, prompting an “unconscious response” from prospective purchasers, colour psychologist Andrea Mountford explains.

She recommends that tasteless homeowners plump for magnolia as the most attractive colour.

“As a warm, light, off-white colour, it gives a heightened perception of space, and projects cleanliness and optimism, making it very supportive of the psychological mode of potential purchasers who are looking forward to clearing out the old and starting afresh in a new home,” she said.

Only 37 per cent of homeowners have magnolia as the primary colour in their homes, according to the Privilege survey.

Source – InTheNews.co.uk