Housing prices blossom near parks
PARKSIDE PROPERTIES have 70 per cent higher price tags. That is the conclusion of research by online estate agent eMoov. It looked at the average cost of a property in eight UK cities and compared it with the price of property surrounding the city’s best and biggest parks.
London tops the list of UK cities for price differential and Hampstead in the north west beats Richmond in the south west.
The average London house price is £603,422 but eMoov reveals the London park average is £1,105,366 (83 per cent higher) and the Hampstead Heath average is £1,320,985. The Richmond Park average is £810,279 and in Hyde Park it is £1,831,411. At the other end of the scale, Crystal Palace Park’s average is £458,788.
Four5Two is a new development in Hampstead, within walking distance of the heath. Prices start at £1.1 million for two-bedrooms, through Glentree New Homes. Completion is due later this year.
Barratt is building at Hampstead Reach, which beats the average parkside price. The six houses and 39 apartments here are designed in the style of the Arts and Crafts movement, with water features and a private residents’ courtyard. There is a 12-hour concierge, underground parking, CCTV, bicycle kitchen area) storage and a hotel-style lobby. Prices start at £995,000 through Glentree.
At the other end of the scale, Eliot House on The Bishops Avenue, N2 consists of five apartments and three houses, from £5.5 million. Glentree is joint agent with Knight Frank.
At the lower-priced end of the market, look at Wembley, where Countryside’s Parkside Place is available with London Help to Buy.
One-bedroom apartments measure 581 sq ft; two-bedrooms 722 to 859 sq (right, the living/ ft, all with a private balcony or terrace. This scheme is opposite Barham Park, with its mature trees, water features, flower beds and peaceful walled garden. The newly released Primrose, Regent and Kensington buildings stand around a communal garden. Residents of the Kensington also have access to a courtyard.
One-bedroom apartments start at £350,000; two-bedrooms at £435,000 and three-bedroom duplexes at £525,000. Three-bedroom townhouses are also available from £599,995. Under London Help to Buy, just a five per cent deposit is needed, with the government providing an equity loan for up to 40 per cent of the purchase price, interest-free for the first five years.
The most affordable good-quality city park in England is in Manchester, says eMoov. There the average city house price is £167,284 and the city park average just £180,110.
Manchester’s park-adjacent property values are not as expensive as those in EDITED BY CHARLIE JACOBY Liverpool, where a park adds a premium of 7.6 per cent.
Prestwich Forest Park property costs £193,904 and Heaton Park, £198,202, while Wythenshaw Park is £19,059 below the city’s average with a price tag of £148,225.
Russell Quirk, chief executive of eMoov, says: “With the rising prices across London, affordable property surrounding parks is becoming almost impossible to find, although Crystal Palace offers a slight ray of light.”