Homebuyers leaving London pay 15% premium for properties near green spaces, data finds – The Intermediary
Properties for sale within a mile of public green spaces in Essex carried a 15.3% premium compared to the county’s average house price.
Homebuyers leaving London are paying higher prices to live near green space in commuter counties, according to research by UK Property Development.
Properties for sale within a mile of public green spaces in Essex carried a 15.3% premium compared to the county’s average house price.
Kent followed closely with a 15% premium, and Hertfordshire ranked third at 5.7%.
In Hertfordshire, homes near green space averaged £494,580, compared to £467,251 across the county.
The premium for green space was smaller in Berkshire at 5.4% and in Surrey at 4.4%.
Buckinghamshire saw the lowest premium, with properties near green space averaging £492,337, just 1.3% above the county average of £485,824.
Andy Morrison, director of UK Property Development, said: “The London commuter belt has long been associated with established luxury markets such as Surrey, Berkshire and Buckinghamshire, but these figures show that the relationship between green space and property value is more nuanced.”
“Hertfordshire is particularly interesting. It offers the combination that many London leavers are looking for, access to the capital alongside a more spacious setting and proximity to green space.
“For the luxury market, that is not simply about finding somewhere with a park nearby.”
Morrison added: “It is about the quality of the setting and the lifestyle that comes with it.
“That is one of the reasons we are seeing strong appeal in locations such as Goffs Oak.
“At St James View, our new luxury development is designed around the expectations of buyers who want a high-quality new-build home without giving up the connectivity and convenience that makes the London commuter belt so attractive.”
