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TODAY'S OTHER NEWS

Government tells sellers how much green space adds to house values

This is stating the obvious to estate agents but the government has revealed that homes near parks, gardens, playing fields and other green spaces in urban areas have their values boosted as a result.

A new tool from the Office for National Statistics, available to sellers and buyers online free of charge, shows that houses and flats within 100 metres of public green spaces are an average of £2,500 more expensive than they would be if they were more than 500 metres away – an average premium of 1.1 per cent.

The ONS looked at details of more than a million property sales in England and Wales between 2009 and 2016 on Zoopla, and used Ordnance Survey green space data including maps and aerial images. 

Public parks or gardens, play spaces, playing fields, sports facilities, golf courses, allotments or community growing spaces, and religious grounds and cemeteries are included – but woodlands, heaths and other ‘wilder’ open spaces that people might use for recreation are not.

“We found that properties very near public green spaces attracted a premium, and the more green space nearby, the higher that premium is. The closer the green space, and the more there is, the higher the premium” says a statement from the ONS.

It found the public green space boosts the prices of detached houses the most: these homes attract a 1.9 per cent premium if they are within 100 metres of a public green space, but flats near green spaces are only 0.6 per cent more expensive than those further away.

“Homebuyers value being near to green spaces – probably because they can use them for leisure activities like dog walking, sport and exercise. But having a view of green space or water raises house prices even more” continues the ONS.

“Having a view over a green space or water boosted house prices by an extra 1.8 per cent – an average of £4,600.”

You can see the tool for yourself here.

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