27 Jul

Buyers pay more for park views

Buyers pay more for park views

Homes offering residents a view of a park are attracting a premium in many cities across the UK.

Research by HouseSimple found buyers are willing to pay a third more to live in a property with a view of a local green space. The average extra payout across the country was £78,4000.

In cities such as Liverpool, Cardiff, Glasgow, Sheffield and Middlesbrough the amount achieved for park views were even higher. For example, the average house prices near Endcliffe Park in Sheffield was 121 per cent higher that the average home on the region.

However, there are some areas in the country that parks do not seem to push up prices. Around Bristol's Eastville Park, prices were 32 per cent lower than the average price in the areas of £314,629.

"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.ADNFCR-1222-ID-801838189-ADNFCR

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