Recent figures have revealed that having garden space on your property can lift its value by an average of 5%. With spending on improving our outside spaces increasing in 2020 and gardens clearly adding to the value of homes, it seems likely green space is set to hold or increase its value in 2021.
Over the last year, lockdowns have meant that we are spending more time at home than ever before, making gardens even more important to homeowners and those looking to buy. In a new survey performed by the AA, it’s been found that 1 in 5 people feel their garden adds between £10,000-£40,000 to the overall value of their home.
The value of gardens across UK regions
The study looked at homes with and without gardens in 30 towns and cities across the nation to see where gardens are valued the most.
In each place, AA found the average house price for places with up to three bedrooms, and how much people were charging on average for homes with gardens - to see how much of a difference there was between the two.
Overall, the average home was valued at £209,525. But the price of homes of the same size that had gardens hit an average of £220,555 - just over £11,000 more. The top locations for a price bump include Walsall, where a house is worth 16% more if it had a garden, Sunderland, where it’s 15% more and Liverpool, at 11% more.
While those are the best places for garden value compared to the house itself, Brighton is where a garden’s worth the most cash. Compared to an average house price of £379,259, a home with a garden is worth £27,297 more - a 7% increase.
In the capital, however, it appears that properties are actually cheaper with a garden. This is potentially due to the rise in new-build flats and penthouses pushing the average price of all properties beyond those with gardens.
How we feel about our gardens
Gardens might be worth a bit extra on the price tag for the home, but what’s important is why - and what people use theirs for.
In a survey of over 1000 Brits, it has been found that 60% of people had spent more on their gardens during the summer of 2020 than in 2019 - with over 40% spending over £100 more. Welsh residents, in particular, spent more last year, with 1 in 5 saying they spent over £500 more in 2020 compared with the previous year.
1 in 5 thought that their garden would add between £10,000 and £40,000 to their property worth with those in the South East going even further, with 15% saying they think the price increase would be between £20,000 and £40,000.
While the study shows that properties aren’t increased nearly as much in many cities, 57% of Brits stated that they would look for a house or property that had a garden after living in a house without one.
With coronavirus and lockdowns playing a big role in giving Brits more time to spend in their gardens, it’s unclear how the future might change our opinions on our green spaces.
Jack Cousens, from the AA, comments: “2020 was a tumultuous time for new and existing homeowners, so it is notable to see that gardens and green space are so highly regarded in terms of both the study and the survey. As a nation, we are fairly apt with DIY and home improvement, so it will be interesting to see whether this trend will continue in 2021.”
Source: Property Reporter