Price premium on property near green spaces

Access to green space adds value to property. Official data form the Office for National Statistics (ONS) says a home near a park or playing fields can add an average £2,500 to the price of a home.

Having a view of a public garden or park or even a home that looks over water will make your home even more valuable.

Park view adds £2.5k

The ONS crunched the numbers on more than one million property sales in urban areas of England and Wales between 2009 and 2016.

What they discovered is that flats and houses within 100 metres of public green spaces such as parks or gardens were an average £2,500 more expensive than those 500 metres away.

Detached homes benefit most in price gains when they are close to green areas.

River view even more valuable

According to the ONS data, a home with a view over a park, river, canal or sea had its value rise by an average £4,600.

The ONS defined green space as public parks and gardens, playing fields, golf courses and allotments. They even included cemeteries in their analysis. However, woodlands and heaths were not considered in this particular analysis.

The ONS researchers used transactions from property website Zoopla for their research.