Londoners will pay 20% more for outside space

11 July 2013

 

According to Marsh and Parsons Londoners will pay around 20% more for outside space in the city. Their research revealed that prices can vary depending on a garden, roof terrace or just being close to outside space. More outside space can increase the value by around 20% for a property in London.
The Independent reported that in Bayswater, there are strong price differences between those properties which have outdoor space and those which do not. A one bedroom flat with an outdoor patio was £75k more expensive than a comparable one bedroom property with no outside space.
Peter Rollings, CEO of Marsh and Parsons, said: "In the summer months, Londoners yearn for some outdoor space and the freedom to have an external room in which to entertain. But fulfilling the dream of a countryside idyll in London comes at a premium. In such an urban area, outdoor space is both scarce and expensive. Thankfully, Londoners can also retreat to one of the capital’s treasured parks and green spaces, where it is possible to find a piece of the great outdoors here in the city.”
"Location and outdoor space can make the difference between a desirable property and an incredible property with a wow factor. Gardens, roof terraces and the proximity to green space can all add substantial value. Properties without gardens are not as appealing for many home buyers and it can be harder to sell them during the summer months."

 

According to Marsh and Parsons Londoners will pay around 20% more for outside space in the city. Their research revealed that prices can vary depending on a garden, roof terrace or just being close to outside space. More outside space can increase the value by around 20% for a property in London.

The Independent reported that in Bayswater, there are strong price differences between those properties which have outdoor space and those which do not. A one bedroom flat with an outdoor patio was £75k more expensive than a comparable one bedroom property with no outside space.

Peter Rollings, CEO of Marsh and Parsons, said: "In the summer months, Londoners yearn for some outdoor space and the freedom to have an external room in which to entertain. But fulfilling the dream of a countryside idyll in London comes at a premium. In such an urban area, outdoor space is both scarce and expensive. Thankfully, Londoners can also retreat to one of the capital’s treasured parks and green spaces, where it is possible to find a piece of the great outdoors here in the city.”

"Location and outdoor space can make the difference between a desirable property and an incredible property with a wow factor. Gardens, roof terraces and the proximity to green space can all add substantial value. Properties without gardens are not as appealing for many home buyers and it can be harder to sell them during the summer months."

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