BLOG | News

6 surprising factors that affect property value

Looking to sell your property? There are a few unexpected ways that can boost – or unwittingly reduce – the value of your property.

A good local

This one could go either way and of course, the type of pub matters. A recent Zoopla survey showed that 23% of buyers said having a good gastropub nearby would factor into their decision-making process.

Your neighbours

No matter how attractive a particular area may be, problems with neighbours still have an impact on prices. A report by Halifax Home Insurance suggested that arguments over territory or noise could shave up to £31,000 from a property’s value. To avoid buying a property where this could be a problem, you should talk to the seller, spend time in the area, or speak to the council to see if any disputes have been listed.

Names and numbers

Research by Zoopla suggests street names could also affect a property’s value. For example, Warrens are the priciest types of road – houses fetch up to £607,267, which is more than double the national average. Streets are the cheapest, and perhaps unsurprisingly, rude names sell for less! Weirdly, numbers also have an influence. Zoopla also found that on average, odd numbered houses fetched more than even numbers. And, if your house is number 13, your home is likely to sell for £6,500 less than its neighbours.

Proximity to sporting venues

Areas such as Wimbledon, Twickenham and Stratford perform better than neighbouring boroughs. Plus, short-term lets in Wimbledon can fetch up to £7,000 a week during the two-week tennis tournament.

The Waitrose effect

A Lloyds report suggested an upscale supermarket in close proximity could add 12% on to the value of your property.

Nice and neutral

Property experts say that ‘bad taste’ interiors can knock up to 10% off the asking price. Sticking to relatively neutral, and non-garish décor allows potential buyers to envisage themselves living there and putting their own stamp on the property.

Looking to buy or sell? Call the Kingsley Hamilton Estates team today on 020 7078 0214, or email info@kh-estates.com and one of our team will be in touch.