GetAgent: good eyesight increases home value by up to 54%
Research by real estate agent comparison site GetAgent.co.uk found that homes with a good view command a higher price than 54% compared to the rest of the market.
Research looked at how the average price of a property with a good view differs from that of the wider market in 23 major UK cities.
Research has found that a property with a good view commands an average price of £ 536,187, a 34% premium over comparable properties without a view (£ 400,865).
Value of prime central apartments down 10.2% since 2016
Liverpool housed the highest premium, with properties offering good views at an average price of £ 479,212 compared to £ 302,710 for comparable properties in the same area – a premium of 58%.
In Southampton, good views have pushed house prices up to £ 495,966; a premium of 56% compared to £ 317,575 for comparable homes in the area.
In Portsmouth, houses with a view were 54% more expensive, averaging £ 641,939.
In the cities of Birmingham and Plymouth, the good visibility premiums were 53% and 48% respectively.
Newcastle (47%), Bournemouth (47%), Leeds (46%), Bradford (45%) and Glasgow (42%).
Colby Short, Founder and CEO of GetAgent.co.uk, said: “Not only do good views give homes a special and unique factor that others cannot duplicate, but Britain’s strict planning codes mean they are increasingly unlikely to be ruined by new developments, thus protecting the good visibility premium no matter what happens in the housing market.
“As such, buyers often go above and beyond to get a house with a good view, which often means paying a lot more than they could for another similar property.
“It’s no surprise to see so many coastal locations rank among the highest premiums paid for a house with a view.
“Our obsession with the sea makes it one of the most desirable views you can find from the comfort of your own home.
“If you own a house with a view, you have a rare and winning hand that will reward you every time you choose to play it.
“But the view should always be the icing on a cake that is attractive in every way.
“So when it comes to selling make sure you present your home in the best light and use a good local real estate agent who will be able to sell your home to its full potential. “