5 Surprising Factors that Impact House Prices

 

We know that quality of local schools, transport links and views will improve or hamper the value and saleability of our homes, however there are many other unusual factors that could influence what your property is worth.

Nearest Supermarket

Having a supermarket within walking distance can have a positive effect on value, and which supermarket could influence this further. Lloyds bank recently released research that suggested that living near any supermarket could raise house prices by up to £22,000, but if you are near a Waitrose this figure could double! This has been coined “The Waitrose effect”.

https://www.buyassociation.co.uk/2017/02/26/property-investment-qa-1-furnish-not-furnish/

Street Name

Is the name of your street a little silly? Unfortunately, this could have a negative impact on the value of your home. Yes, people are that easily embarrassed. The first line of your address can also have a surprising consequence; Streets are cheaper than lanes, and “Warrens” are substantially more expensive than both.

Local Pub

Almost a quarter of homebuyers say being close a good local is important, and this figure can rise to 35% for buyers between 18 – 34. So, if your properties target market is young professionals, a good pub in close proximity may just speed up your sale!

https://www.buyassociation.co.uk/2017/03/30/property-investment-qa-7-new-home-renovation/

Market Towns

Research from property portal Zoopla showed that we Brits will fork out up to £34,000 extra to live in a desirable market town. With more people shunning cities for the country life, buyers are willing to pay more to be part of close knit semi-rural communities, scenic surroundings and historic properties with character – A property doesn’t have to be in the city centre to command top prices!

House Number

Number 13 could be unlucky with home owners, online Estate Agency YOPA have estimated this could knock around £6,500 off the value of your home, with superstitious home owners less likely to make an offer for full asking price. On average, houses with odd numbers sell for £538.00 more than their equal counterparts. Why? Who knows!

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5 Surprising Factors that Impact House Prices

5 Surprising Factors that Impact House Prices

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