Almost half of people searching for a new home believe that the size of a property is one of the most important factors in their decision to buy a property, it has been revealed.

According to Yorkshire Bank, 48 per cent of buyers are keen to purchase a home offering lots of room, with 52 per cent admitting they would be pay extra in order to have a spare bedroom.

However, 26 per cent of those questioned said that the extra room goes unused most of the time.

Gary Lumby, Yorkshire Bank''s head of retail, commented that while location is still the key issue affecting people''s choice of where to live, "space is now the new frontier".

"However, once we''ve got it - and in most cases paid a premium for it - we often don''t use it in the way we intended," he added.

Despite this, 44 per cent of buyers indicated that would like to own a property which had enough space to add floor space.

Earlier this year, Halifax commented that home improvements which expand the size of a house, such as loft conversions and extensions, can help add value to a property.