In the face of Brexit, What factors add value?

Across the UK, house prices are fluctuating daily amidst Brexit uncertainty. Some days they are up, some days are down, but for a nation obsessed with the property market, what makes for a valuable area? The Open Property Group Investigates.

Good Neighbours

Good neighbours make an area far more valuable than one that is filled with nuisances, £19,856 nicer to be exact. On the flipside, neighbours from hell can wipe over £17,321 off a property’s value. Similarly, areas which boast low crime levels are likely to be more valuable than those with rising crime levels.

Good Schools

A good school is also vital for an area to be valuable. Savills estate agents suggest that a good school adds 25% on to the house’s value than one that is situated next to a poorly performing institution.

Ofsted can thus be either a Godsend or very harmful for a property’s asking price. A poor Ofsted report can see up to 8% knocked off the value whereas a good report can see buyers pay an average of an 8% premium on a home.

The Waitrose effect

Without stating the obvious, upmarket shops and restaurants also do wonders for the value of an area. In fact, if the area has a Waitrose, it is one of first things an estate agent tells any potential buyers. And why? The so called “Waitrose effect” is said to add 12% (or £40,000) on the average property.

As well as having a fancy local supermarket, a swanky restaurant is equally as beneficial for the value of an area – areas with Michelin-starred restaurants are said to house properties worth 50% more than that region’s average.

No eyesores

The visual aspect of an area is also key to its worth. Eyesores such as wind turbines and mobile masts can be damaging for an area’s value. However, areas with pleasing views boast more expensive house prices.

A sea view in the South-West can cost a premium of up a staggering 66%, estuary views 82% and harbour views 81%.

Leafy areas are also said to see a hike in property prices, research shows that streets with trees planted bring an average of £4,700 extra. In a different environmental aspect, areas with good flood plains are now highly sought after.

A flood can cause up to £40,000 worth of damage to a home so areas with prevention tactics are worth more than those without such measures in force.

No Traffic

Traffic is also crucial to an area’s worth. An area with a build-up of lots of traffic are far less valuable than areas with a quiet traffic scene. And as well as having a quiet morning commute in terms of what’s on the road, the noise coming from the roads can also knock a chunk of an area’s value. Loud road noises are thus a huge no.

Fast Internet

With so much of our private and professional lives dependent upon the World Wide Web, good broadband speeds are now essential. An area with fast internet speeds (over 25mbps) will see properties with much higher house prices than those with a poor connection.

Market Towns

Bringing our list to a close, Market towns are also said to make far more valuable areas. Research by Lloyds revealed that properties in market towns were worth an average of £25,000 more than similar properties, not in market towns.

If a property meets all these conditions, there is absolutely no reason why it shouldn’t be able to sell despite the current uncertainty surrounding Brexit.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Breaking News

Renters’ Rights Bill parliamentary progress

The Renters’ Rights Bill has completed its Committee Stage in the House of Lords and will move on to the Report Stage imminently. Allison Thompson, National Lettings Managing Director of LRG, comments on the progress of the Bill: “As the Renters’ Rights Bill completes its committee stage in the House of Lords, it is disappointing…
Read More
Kerb appeal
Breaking News

Housing Market Surges as Stamp Duty Changes Drive Buyer Activity

UK Finance today releases its latest Household Finance Review for Q1 2025, which explores trends in household spending, saving, and borrowing. Mortgage lending surged in the first quarter of 2025, driven by homebuyers seeking to complete purchases before changes to Stamp Duty took effect in April. Household savings continued to grow, particularly in notice accounts…
Read More
Breaking News

Mortgage Approvals Down in April

The latest figures show that: – Mortgage approvals on house purchases for April sat at 60,463 down (-4.9%) from 63,603 in March. This signals four consecutive months of decline. Approvals are also lower (-2.1%) than the 61,740 seen in April 2024. Despite the decline, there is still optimism for growth in the coming months, especially…
Read More
New Builds 2020
Breaking News

Build to rent completions up, but sector has seen slowdown in construction

New research by Inventory Base reveals that the number of build to rent completions has increased by almost 16% in the past year, however, there has been a significant dip in the number of BTR buildings currently under construction. Inventory Base has analysed UK build to rent (BTR) construction planning data* and found that in…
Read More
Breaking News

Response to latest Nationwide House Price Index

Comment on latest Nationwide data showing a 3.5% increase in house prices from the Industry. Nathan Emerson, CEO at Propertymark: “It is reassuring to witness consistent house price growth and a strong appetite as people continue to approach the homebuying and selling process, especially when the UK economy continues to adapt to both domestic and…
Read More
Breaking News

Annual house price growth edged higher in May

Annual rate of house price growth increased marginally in May to 3.5%, compared to 3.4% in April House prices were up 0.5% month on month House prices in predominantly rural areas have risen by 23% over the last five years, compared to 18% in more urban areas Commenting on the figures, Robert Gardner, Nationwide’s Chief…
Read More