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England Average House Prices Affected by Volume of Residential Gardens
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Leading hybrid agent Emoov.co.uk has undertaken research looking at the volume of residential gardens in areas across England. From this research we can see that areas with the most residential gardens contain properties that are selling for 42% higher on average than the rest of the country.
With Spring on its way, and the start of British Summer Time being marked by the clocks going forward last weekend, we will soon find ourselves soaking up the rays in our gardens once again. The weather will be getting warmer, and the flowers are beginning to bloom, so there may be more of a focused attention during a property viewing on the state of the garden.
If the perfect garden is high on your list, then you may find Emoov’s research insightful. They have looked at where contains the highest percentage of residential gardens, taking into account the total land use within that area, and how this has had an effect on property prices.
Looking at such properties with a garden consisting of 30% or more of the total landscape, Emoov have found the average price is £343,344, whereas England’s overall property price average is £242,286. This makes for a staggering 42% extra paid for the benefit of a bigger garden.
It is also understandably considered that a good up-keep of your garden can help raise the selling price of the overall property, as buyers do tend to like the idea of a house ready to move into, with little renovations required.
Founder and CEO of Emoov.co.uk, Russell Quirk, has commented: “A garden is right up there with some of the most desirable features of a property and so it’s important to maximise its property sale potential, particularly as we head towards British Summer Time.”
Looking at those areas with slightly smaller gardens, there is still a significant increase in price. A 20%-30% volume of land occupied by a residential garden has resulted in houses averaging a price of £303,545, meaning a 25% increase on the national average.
If we were to look at areas with gardens that account for 10% or less of the total land, Emoov’s research shows that even then the prices are 5% above the average in England.
Quirk also said: “While the presence, positioning and size of the garden are ultimately the factors that dictate the price premium of your property, a well presented outdoor space can be the tipping point in converting a viewer to a buyer.
“Buying a property is an emotive process and so enabling someone to picture themselves in your garden during those long summer afternoons can make all the difference.”
If you are looking to buy a property, this information is worth taking into account, as it could help you determine the reasoning behind the asking price, and of course whether it is worth it, based on your own requirements.
