Good-view homes command 81% premium
The latest research from UK Property Development (UKPD) reveals that new-build homes that boast a good view command an average price premium of 81.4% compared to overall new-build prices, with the premium in London approaching 110%.
UKPD has analysed the estimated average asking price of new-build homes in England marketed as offering a ‘good view’, comparing these properties with the wider average price of new-build homes across the country to reveal the premium buyers may pay for a property with an stunning outlook.
The data shows that the average new-build price in England currently stands at an estimated £380,536. Meanwhile, the average price for a good view new-build sits at £690,475 – a significant premium of 81.4%, or £309,939.
There are four English regions where the good-view new-build premium is even bigger, nowhere more so than in London.
The average new-build price in the capital is £494,002, while the average for a new-build with a good view is more than £1m: a staggering difference of 109.2%.
In the South East, a good-view new-build price of £915,767 represents a premium of 88.4%, followed by the West Midlands (86.4%) and East of England (85.6%).
Elsewhere, the good view premiums in the South West and East Midlands each come in just below the national average at 77.3%, while in Yorkshire & Humber and the North West, it stands at 67.9% and 53.1% respectively.
However, it’s buyers in the North East who benefit from the most affordable good-view properties. While the region’s overall new-build price stands at £289,439, you can secure one with a stunning outlook for an estimated £313,921, marking a premium of just 8.5%.
Andy Morrison, Director of UK Property Development, commented:
“It’s not always easy to find new-build homes that boast stunning views – be they countryside panoramas or city vistas – because there are a limited number of such spots up and down the country that can also facilitate a new-build development.
But the good news is that developers are still managing to find plots here and there which offer all of the gorgeous prospects you could wish for, you’ve just to seek them out, and when you do find them, they are likely to command a hefty price premium due to their scarcity.
In Goffs Oak, our development is called St James View partly because owners are getting just that – a breathtaking panoramic view of the surrounding Hertfordshire countryside which really is something special to wake up to every morning.”
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