Property News

Wednesday, November 15, 2006

External factors affecting house prices

According to a new survey by Haart estate agents, being close to the tube or railway station will make the biggest difference in your house price.

If your property is within two miles of a mainline station or London underground station it will add 12% to its price on average, the equivalent of around £20,000. However, if your home is next to run-down housing it could take £20,000 off your sale price.

Russell Jervis, managing director of haart estate agents, says "It is widely known that factors such as good transport links can push property prices up and derelict houses can drag them down, but many homeowners do not realise the extent house prices can be affected"

See below for the full list:

Top value adding external factors:
Mainline tube / railway station - 12%
Top state school - 11%
Motorway / dual carriageway links - 9%
Open countryside / park - 9%
Vibrant social scene - restaurant / pubs - 6%
Quality food store (Waitrose / M&S) - 4%
High street facilities (e.g. banks and newsagents) - 3%
Sports club / exercise facilities - 2%
Good NHS hospital - 2%
Cinema / entertainment - 1%

Top value decreasing external factors:
Run-down / derelict houses - 12%
Late licence music venue / takeaway venues - 11%
Derelict land - 9%
Airport flight path - 9%
Waste / refuse station - 8%
Busy road - 8%
Nightmare neighbours - 7%
Poorly-rated comprehensive school - 6%
Railway line - 5%
Mobile phone / telecom masts - 4%

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