In the past, we’ve looked at house prices and the different ways in which you can positively affect your property’s value.
Our list of high ROI home improvements and making the most of a spare room were among your favourites, not to mention the to-the-point post which really hit the nail on the head - 11 Tips for Adding Value to Your Home.
However, there are a few things which are largely out of your control that may also have an impact on the price of your home...and some of them may surprise you.
Address your address
You may not think so, but your address can have a dramatic impact on the value of your home. Top-of-the-address-pops are Warrens. Amazingly, homes with Warren in the address can fetch over double the national average.
Hill is another top performer. Apparently, we Brits are fond of being high up. Research from Zoopla shows that having Hill in your address could bring in more than double that of a comparable home in a plain old Street.
The name game doesn’t stop there, either. Addresses with Kings in them perform 20 per cent better than those with Queens, while the aforementioned Streets don’t fare very well at all.
Thanks to the wonderfully diverse nature of the English language, there are a few choice addresses to be found across the country too. While these addresses may raise a smile, they’re unlikely to raise the value of your home. After all, would you want to have to repeatedly tell people you lived on Fanny Street?
Names beat numbers
While we’re on the subject, the Cheltenham and Gloucester Building Society found that 88 per cent of people they surveyed would rather have a house with a name than one with a number. Not only that, houses with names can fetch up to 5 per cent more than those with digits.
Not all numbers are the same
If you do happen to live in a property with numbers rather than a name, there’s more to look out for.
Weirdly, odd-numbered homes seem to do quite a bit better than their even-numbered counterparts. According to Zoopla, having an odd house number will land you an extra £538, on average.
However, not all odd numbers are created equal. If your door number is 13, you can expect to take a hit of around £6,500 when compared to surrounding properties. Ouch!
The power of parking
This is something we looked at in depth in our post How Important Is A Property’s Parking Space?, but we thought it needed reiterating here too.
Why? Well, in certain parts of the country, having somewhere to park a car could improve your property’s value by as much as £50,000 - not too shabby!
Money really does grow on trees
If your street is tree-lined, you’re in luck. A study conducted across the pond in Portland, Oregon, showed that residential streets with trees separating the road and the pavement far outperform those lacking such leafy luxury. Apparently, the difference could be as much as £4,700. Time to call the council!
Posh nosh can push up prices
Our ever growing love of food can have an effect on property prices. If you’re lucky enough to be close to a famous Michelin-starred restaurant, the chances are good that the value of your property will grow...possibly along with your waistline!
Supermarkets can make a difference too
The ‘Waitrose Effect’ has been well-documented, and a local M&S can increase prices by 9 per cent, but it’s not just high-end supermarkets that can add value to your home. Having an Aldi close by can add £5,000 to a property too.
However, the ‘Big W’ remains king, with a local Waitrose pushing house prices up by nearly £40,000 in some instances.
Farmers’ markets do their bit as well
We all know the importance of buying locally wherever possible, and farmers’ markets offer us the perfect opportunity to do so. It stands to reason then that having one near your home will have a positive impact on the value of your property.
Freedom to fish
Okay, so there may not be much scope for this in Wanstead, but fishing rights can have a decent impact on the value of your home if you’re lucky enough to have them. Living near water has always been a positive for property, but if you can also secure fishing rights for your riverside dwelling you could see your home’s value soar by as much as 15 per cent.
We’re not sure if the River Roding quite has the angling pedigree to add that much value, but it’s an interesting fact nonetheless!
Blue plaques boost prices
This one may not be quite as surprising. Blue plaques can give your property a three to five per cent boost in value. The power of celebrity even reaches into the property market, it would seem.
Sporting venues up the competition
Living close to one of the country’s globally-recognised sporting venues can make a big difference to how much your property will fetch when it hits the market. Areas in London such as Wimbledon, Twickenham, Wembley and, more recently, Stratford, can perform up to 10 per cent better than neighbouring boroughs simply because they have great arenas nearby.
Furthermore, having a popular sporting venue close to your home could bring in some extra income while you live there. If you don’t drive, but have a driveway, renting out your parking space could pay a few bills when there are big events on.
Better still, short-term lets in places such as Wimbledon during the two-week tennis extravaganza can fetch as much as £7,000 per week. Nice work if you can get it!
Good pubs have a positive effect on property prices
Contrary to popular belief, living close to a pub can actually have a positive effect on the value of your home. The key thing to consider, however, is the type of pub. Rowdy watering holes are obviously not ideal, but a well-regarded gastropub can really make a difference when you decide to sell up.
A recent survey showed that 23 per cent of buyers thought having a good local was an important part of their decision-making process. Add to that the fact that close proximity to a popular pub could add as much as 10 per cent to property prices and it’s easy to see why having one within walking distance is beneficial.
Culture adds value
Amenities such as schools and shops are vital, but many people overlook the importance of having things to do nearby. Independent cinemas, art galleries, museums, and music venues can all have a positive impact on how an area is perceived, and this is reflected in the local property prices.
A cultured, community feel, where there are lots of things to do for all age groups, gives people a sense of belonging. In today’s increasingly isolated world this is important, and it could add anywhere between three and five per cent to the value of your home.
If you’d like to find out exactly how much your property is worth, Petty Son and Prestwich can give you a 100% free and instant online valuation right now! To get started, simply click here.
For any other property related queries you may have, our team are always happy to help. Give them a call or drop them a line today.