Buyers in the UK pay a third more to live in a home with a view of a nice park in a major town of city, averaging some £78,400 extra, according to new research.
Public green spaces in major urban areas are scarce and in some cities such as Sheffield, Liverpool, Cardiff, Glasgow and Middlesbrough buying a property with such a view can cost twice as much.
The research by online estate agent HouseSimple found that the average house prices near or overlooking Endcliffe Park in Sheffield is 121% higher than the average property price in the city.
Similarly, Sefton Park in Liverpool, average property prices are 112% higher than the average for the city and for Heath Park in Cardiff there is a price difference of 111% while near and overlooking Kelvingrove Park in Glasgow it is 104% higher.
While not having the biggest price difference, homes overlooking London’s Hyde Park are still 97% higher but there are still parks in major towns and cities where average property prices are actually lower than the city average.
For example, average property prices around Eastville Park in Bristol, at £213,992, are 32% lower than the average price in the area of £314,629. While average prices near Abbey Park in Leeds and Ford Park in Plymouth are 18% lower and around Southampton Common they are 16% lower.
‘In large urban areas where many properties don’t have a garden or access to a communal garden, living near public parks or green spaces is often one of the top wishes amongst buyers,’ said Alex Gosling, chief executive officer of HouseSimple.
‘That high demand inevitably impacts on the price people will pay, but many buyers may not realise just how much of a premium they could be paying. That doesn’t mean there aren’t good value properties around some of the UK’s urban green spaces, but for real value it’s probably worth looking at roads that are a short walk away,’ he added.
