How much value does a new timber floor add?

In response to a question on another forum, I approached the Australian Timber Flooring Association with a request to conduct some sort of empirical research. The results reflect that on average a hardwood timber floor adds 3% in value to the price of a house.
Quote:
TUESDAY AUGUST 4 2009 ISSUE 32
I
Another Marketing Edge for Timber Flooring

Following a member’s suggestion (our thanks to Refined
Flooring in the ACT), ATFA recently conducted a survey of real estate
agents to determine the value a timber floor added to a domestic home.
The results are significant. A similar survey in the United States (by the
NWFA) determined that a timber floor added an additional 2% of value to a
home for resale purposes.

Thanks to the assistance of the national Re/Max Real Estate network,
ATFA surveyed approximately 1000 agents across the country to establish
the following results:

91% of respondents believed that a home with a timber floor was
easier to sell than homes with other floor surfaces;

73% of respondents believed that a home with a timber floor sold
faster than homes with other floor surfaces;

100% of respondents agreed that timber floors add value to the
saleable price of a home.

While some went as far as suggesting the value of a timber floor added 8%
to the value of a home, the average across respondents was a healthy 3%
of added value to a home.

When considering a home valued at $500 000.00, and subsequently
adding a timber floor of approximately $20 000.00 in value, the home could
potentially be worth $535 600.00, significantly increasing the investment.
This potential added value, together with the potential of selling a home
easier and faster, should aid in promoting a timber floor to prospective
clients.



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