Homeowners with larger-than-average gardens could be sitting on a small fortune, according to experts.

With developers eyeing up any available bit of land, homeowners are being lured into exchanging their prized possessions for a wad of cash.

Garden owners are being warned though that cashing in their patches could significantly reduce the value of their house.

Tim Blenkin, from York-base estate agency, Blenkin & Co., said, in an interview with the Daily Telegraph, that research carried out by his firm showed wide variations in values.

He said the survey showed, in the 30 miles around York surveyed, that a 2,500sq ft house without or with a very small garden, would on average fetch £467,000.

An identical house with a big garden would cost £687,000 - a difference of £222,000.
Mr Blenkin told the paper: "Such a difference, if known, might persuade more homeowners to rethink carving up their beautiful gardens and selling to developers."

There are concerns, with the rising threat of re-possessions widely predicted next year due to higher interest rates, that more people will consider sacrificing their gardens just to stay solvent.

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