Buyers in the UK are happy to invest an additional 30% to secure a property with a nice view in a major town or city, adding about £78,400 to the price tag, a research as now revealed.
Having the option to look upon some beautiful green space from your home is a rare possibility in a lot of cities across the UK. A new research by HouseSimple has now found out that in those places where green spaces are particularly rare, such as Sheffield, Cardiff, Glasgow, Liverpool and Middlesbrough a beautiful view can cost a buyer almost double the price.
Owning a property with a view of Endcliffe Park, one of Sheffield’s most popular green spaces, sets its buyer back a lot more than owning any other property in Sheffield, the report revealed. House prices near the park are a significant 121% higher than the average of the city.
Sefton Park in Liverpool has a similar effect on property prices, as the average house price is 112% higher than the rest of the city. If you’d like to be able to see Heath Park in Cardiff from your home you’d have to spend an additional 111% to secure a property, whilst a home near Glasgow’s Kelvingrove Park will set you back an extra 104% of the local price tag.
Being close to communal green space is often something buyers – and renters – put on their wish list, as private outdoor space is a rare occurrence in big cities and urban centres. As a result, properties close to parks and other communal outdoor space have become very sought-after, which led to a rather dramatic increase in their price tag.
Alex Gosling is the chief executive officer at House Simple and commented the findings:
“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.”