LONDON, August 30 /PRNewswire/ --



Over nine million UK homeowners(i) are fed up with their small
and pokey properties, new research reveals today.

The 'Price of Space' report(ii) from Instant Access Properties,
the country's largest property-sourcing company, reveals that almost half
(49%) of British homeowners are on the look out for somewhere else because
their current homes lack decent living space.

Whilst the mantra for prospective buyers has long been
'location, location, location', over one in four (27%) house hunters said
they would forego a house in the vicinity of good schools, transport links
and amenities, just to have a bit more room. The same amount (23%) - around
four million(iii) people - said they had to make a big compromise on living
space when they moved into their current houses or apartments.

As part of its report, Instant Access Properties has also
revealed exactly how many square metres the average house price is worth in
15 different cities across the UK(iv). The results show that the average
house in Bradford worth GBP198,000 provides three times the space of a
same-value property in London.

The full results of the audit are as follows:
    
    1. Bradford     149 sq. m
    2. Sheffield    129 sq. m
    2. Glasgow      129 sq. m
    4. Liverpool    128 sq. m
    5. Birmingham   125 sq. m
    6. Leicester    124 sq. m
    7. Manchester   122 sq. m
    8. Newcastle    120 sq. m
    9. Leeds        118 sq. m
    10. Belfast     116 sq. m
    11. Cardiff     112 sq. m
    12. Bristol      98 sq. m
    13. Edinburgh    90 sq. m
    14. Brighton     78 sq. m
    15. London       51 sq. m



Pierre Williams, Head of Communications for Instant Access
Properties, comments: "Our research shows that living space is becoming an
increasingly important factor in the house-buying decision. The fact that so
many people are considering moving home to get more space speaks volumes.

"The squeeze on living space has been greatly exacerbated by
planning policy which has strongly encouraged the building of smaller homes
in order to reduce land use for building. That's why we put together the city
buyers' guide as part of the report - to give house hunters an idea of the
best locations in the country for living space."

Pamela Brown, former property expert for ITV1's GMTV, added:
"We live in a constantly expanding world, and our property requirements
follow this format accordingly. The bottom line will always be value for
money and quality of life, but as circumstances change, people are not solely
driven by the locality of a property to their place of work.

"So size does matter, especially for the changing family unit.
Teenagers now want more of their own room to accommodate computers and music
systems, while the increase in working from home(v) has also brought about
the need for 'office space' in the home."

The 'Price of Space' report by Instant Access Properties also
revealed that two-fifths (39%) of current homeowners are considering building
an extension to add on a few square metres. And over a tenth (13%) have
looked at splitting one room into two to create the impression of more floor
space.

Just under half (47%) of people on the property ladder plan to
redecorate their homes, and two-fifths (42%) want to refurbish their
kitchens.

(i)18,405,000 owner-occupied houses in the UK (CLGO) x 49%

(ii) Instant Access Properties commissioned YouGov to speak to 1,430
British homeowners in August, 2007

(iii) 18,405,000 owner-occupied houses in the UK (CLGO) x 23%

(iv) Using average house price and regional cost per square
metre from Halifax House Price Index

(v) There are now 3.1 million homeworkers in the UK - up 
800,000 from 1997 (ONS)

Notes to Editors:

Instant Access Properties has more than 8,500 members and has sourced
more than GBP550m in quality residential property over the last 12 months.
Instant Access Properties members have consistently been the largest buyers
of new build property in the UK, Florida and Spain investor markets.