Research conducted by online estate agents HouseSimple.com has found that in five of the 30 cities featured in its survey – Sheffield, Liverpool, Cardiff, Glasgow and Middlesbrough – some properties near parks are valued at double the average property price for that area.
The highest premium was in Sheffield, where average house prices for properties near Endcliffe Park were found to be 121% higher (£415,230) than the city average (£187,757).
Elsewhere, average house prices for properties surrounding London’s largest royal parks were £1.33m, more than £650,000 higher than the London average (£673,344).
Alex Gosling, CEO of HouseSimple.com said: “In large urban sprawls 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 among buyers.
“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.
- How much could a new-build home save buyers?
- What needs to change to make first-time buyer property prices affordable?
- Why has student housing become so popular?
“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.”
City |
Park |
Average property price for town/city (£) |
Average property price in streets close to park (£) |
Percentage difference (%) |
Sheffield |
Endcliffe Park |
£187,757 |
£415,230 |
121% |
Liverpool |
Sefton Park |
£164,986 |
£349,929 |
112% |
Cardiff |
Heath Park |
£233,833 |
£492,328 |
111% |
Glasgow |
Kelvingrove Park |
£175,295 |
£357,813 |
104% |
Middlesbrough |
Stewart Park |
£143,282 |
£287,052 |
100% |
London |
Hyde Park |
£673,344 |
£1,327,670 |
97% |
Sunderland |
Backhouse Park |
£140,384 |
£244,316 |
74% |
Nottingham |
Highfields Park |
£188,662 |
£289,335 |
53% |
Edinburgh |
Inverlelith Park |
£268,282 |
£385,674 |
44% |
Birmingham |
Cannon Hill Park |
£188,235 |
£268,860 |
43% |
Leeds |
Horsforth Hall Park |
£204,766 |
£278,679 |
36% |
Ipswich |
Christchurch Park |
£263,151 |
£346,772 |
32% |
Swansea |
Cwmdonkin Park |
£167,271 |
£217,935 |
30% |
Newcastle |
Town Moor Park |
£203,812 |
£258,542 |
27% |
Luton |
People’s Park |
£261,207 |
£315,892 |
21% |
Leave a comment