A study commissioned by estate agent comparison site GetAgent.co.uk has found that homes with good views attract prices of up to 54% more than the average.
The prices of properties in 23 major cities of the UK were examined, with the cost of homes with a view compared to those without.
Results found that properties with good views fetched on average £536,187, 34% more than comparable properties without views, at £400,865.
Which cities attracted the highest premium?
Liverpool had the largest uplift in price for homes with good views, with an average price of £479,212, compared to 3302,710 for those without. This equates to a 58% premium.
Southampton came second, with properties with views costing £495,66, 56% more than those without at £317,575.
Nearby Portsmouth was similar, with a 54% increase, at an average price of £641,939.
Birmingham and Plymouth were next in line, where increases stood at 53% and 48% respectively.
The rest of the top ten were Newcastle (475), Bournemouth (47%) Leeds (46%), Bradford (45%) and Glasgow (42%).
GetAgent’s founder and CEO, Colby Short, said: “Not only do good views give homes a special and unique factor that others cannot replicate, Britain’s strict planning codes mean that they are increasingly unlikely to be spoiled by new developments, thus protecting the good view premium regardless of what’s going on in the housing market.
“As such, buyers will often go above and beyond to secure a home with a good view and this often means paying far more than they may have for another similar property.
“It’s no surprise to see so many coastal locations ranking amongst some of the highest premiums paid for a home with a view.
“Our obsession with the sea makes it one of the most desirable views you can find from the comfort of your own home.
“If you own a home with a view, you hold a rare and winning hand that will reward you whenever you choose to play it.
“But the view still has to be the icing on an all-around appealing cake.
“So when it comes to selling, make sure to showcase your home at its very best and utilise a good local estate agent, who will be able to sell your home to its fullest potential.”
Sea and water views are some of the most popular, with properties on the coast always at a premium. The premium extends beyond cities to small towns and coastal villages, with any property with even a glimpse of the sea substantially more than those without.
With less than one in ten homes in the average seaside location having a view of the water, those who are lucky enough to be able to see the sea can raise their prices to meet the market demand.
For those who are thinking of selling, making the most of the view and making sure it is prominently displayed in advertising will help them realise their property’s full potential.
If you would like to speak to one of our expert property lawyers, ring us on 0345 241 3100 or email us at mail@cplaw.co.uk
