One key property feature that can boost the price by £82,000 more in the current market
| Published date | 25 April 2024 |
| Publication title | Express, The/The Express on Sunday: Web Edition Articles (London, England) |
Research from estate agents Yopa found the average house price premium for properties with this convenience increased by an eye-watering £82,280.
Yopa analysed house price data for homes currently listed for sale across England that come with the additional draw of sitting just a stone’s throw from the nearest town centre.
Yopa then compared the value of these homes to the average value of a property in the wider area to understand what kind of premium homebuyers are willing to pay to have easy access to shops and amenities.
In England, the average price for a home located close to a town centre is currently £380,025.
Home buyers are "willing to pay more" for this one convenience - even if the property is small
That reflects a premium of 27.6 percent compared to the current average house price of £297,735, meaning buyers are willing to pay £82,290 more to live in these areas.
Unsurprisingly, a regional analysis of the data found this high premium is being driven by London where homes within a short walk of desirable high streets and shopping destinations command a hefty average price tag of £2,405,712.
This is a huge premium of 378.6 percent compared to London’s wider average house price which currently stands at £502,690.
Outside of the capital, the premium paid for walkable access to amenities is lower, but remains significant.
In Yorkshire and Humber, the average regional house price is £204,754. Meanwhile, a short walk to town carries an average asking price of £248,449. This marks a premium of 21.3 percent, equivalent...
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