Urban Green Spaces Raise Nearby House Prices

News at Newton Fallowell | 14/01/2020



 

  • Across England and Wales, properties located close to parks, gardens, playing fields and other publicly-accessible green spaces generate a price premium, according to research conducted by the Office for National Statistics.
  • Houses and apartments located within 100 metres of public green spaces are on average, £2,500 more expensive than those located more than 500 metres away, equating to a premium of 1.1%.
  • Public green space has the greatest impact on the price of detached house. These homes attract a 1.9% premium if they are within 100 metres of a public green space, in comparison, the impact on apartment values is lower.
  • It’s not just property value that is affected by green space, The Thriving Places Index found that in areas with more green space, fewer people have severe mental illnesses, and people rate their feelings of anxiety as less severe.

 

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