House price research reveals big parks premium as householders seek green escape

Properties near the UK's top parks cost 67% more than the average UK house according to analysis by an online estate agent.

Calderstones Park in Liverpool
Calderstones Park in Liverpool

Agent eMoov.co.uk looked at eight major UK cities and compared the price of properties around each city’s best and biggest parks to the average price of properties in each city and in the UK as a whole.

Across England, property surrounding the 13 parks included in the research is 67% more expensive than the English average of £282,138.

Founder chief executive of eMoov.co.uk, Russell Quirk, said: "For families looking to have all the amenities that a city offers but still have green space for their children, Birmingham is an excellent choice with the most affordable options across the city. 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.

"Places like parks and other green areas are becoming of greater importance to buyers, particularly those with children or animals, so they can escape the confines of their home. As a result, it is no surprise that living next to a large, spacious park, as with a tube station, can persuade buyers to part with more cash than they might elsewhere."

How do cities compare?

Liverpool

  • Average City House Price: £153,646
  • City Park Average: £215,061

Liverpool’s city park real estate is 39.9% higher than the city’s average property value. A property surrounding the picturesque Calderstones Park costs £249,876, however, Liverpool does offer some more affordable options with Sefton and Otterspool Parks both costing £197,653 on average.

Manchester

  • Average City House Price: £167,284
  • City Park Average: £180,110

Manchester’s park adjacent property values are not as expensive as rivals Liverpool at 7.6% higher on average than the city as a whole. Prestwich Forest Park property costs £193,904 and Heaton Park property costs £198,202, while Wythenshaw Park is £19,059 below the city’s average with a price tag of £148,225.

Birmingham

  • Average City House Price: £176,012
  • City Park Average: £168,721 

There are more affordable park property options and topping the list for affordability is Birmingham, where real estate surrounding parks is actually lower than the city’s average (-4%). Despite Cannon Hill Park’s higher than average price tag of £227,204, both Sutton Park and Sheldon Country Park have average property values of £118,500 and £160,459, respectively. This makes Birmingham the best option for combining city living and green space in England.

London

  • London Average: £603,422
  • London Park Average: £1,105,366

With the high cost of London property in general, it is no shock that living close to a park will require some additional budget when buying, 83% more to be precise.

Edinburgh

  • Average City House Price: £246,275
  • Park Average: £300,920 

Living close to Edinburgh’s Holyrood Park offers a cheaper alternative costing £198,270, but park properties have a 22.1% premium. Prices jump drastically surrounding Inverleith Park (£286,361) and even more so near Princes Street Garden (£418,129).

Glasgow

  • Average City House Price: £160,096
  • Park Average: £171,099

Linn Park in Glasgow is £5,548 below the city’s average property value, while Pollock Country Park and Kelvin Grove Park real estate come at a much higher price, resulting in a premium of 6.8% more than the city average for Glasgow’s park bordering properties.

Cardiff

  • Average City House Price: £216,083
  • Park Average: £220,723

The Welsh capital’s average property is valued at £216,083 and provides city living coupled with green space at affordable prices. Bute Park real estate costs £196,286 and Victoria Park has an average property value of £202,477. But property surrounding Roath Park is well above Cardiff’s average at £263,407.

Swansea

  • Average City House Price: £161,144
  • Park Average: £201,209

In Swansea, the average property value surrounding three of the city’s biggest and best parks is 28.8% (£40,065) more than the city average. 

Cities/Parks

Average Property Price

Difference (%)

England

 £282,138

 

English Parks Average

 £470,241

66.6%

 

 

 

Manchester

 £167,284

 

Manchester Parks Average

 £180,110

7.6%

Heaton Park

 £198,202

 

Wythenshawe Park

 £148,225

 

Prestwich Forest Park

 £193,904

 

 

 

 

Liverpool

 £153,646

 

Liverpool Parks Average

 £215,061

39.9%

Sefton Park

 £197,653

 

Calderstones Park

 £249,876

 

Otterspool Park

 £197,653

 

 

 

 

Birmingham

 £176,012

 

Birmingham Parks Average

 £168,721

-4.0%

Sutton Park

 £118,500

 

Cannon Hill Park

 £227,204

 

Sheldon Country Park

 £160,459

 

 

 

 

London

 £603,422

 

London Parks Average

 £1,105,336

83.0%

 

 

 

Borough of Richmond

 £801,978

 

Richmond Park

 £810,279

1.0%

 

 

 

Borough of Camden

 £1,063,292

 

Hampstead Heath Park

 £1,320,985

24.2%

 

 

 

Borough of Kensington and Chelsea

 £2,005,744

-8.6%

Hyde Park

 £1,831,411

 

 

 

 

Borough of Bromley

 £478,378

-4.0%

Crystal Palace Park

 £458,788

 

 

 

 

Scotland

 £168,708

 

Scotland Park Average

 £236,010

39.8%

 

 

 

Edinburgh

 £246,275

 

Edinburgh Parks Average

 £300,920

22.1%

Holyrood Park

 £198,270

 

Inverleith Park

 £286,361

 

Princes Street Gardens

 £418,129

 

 

 

 

Glasgow

 £160,096

 

Glasgow Parks Average

 £171,099

6.8%

Pollock Country Park

 £163,184

 

Kelvin Grove Park

 £195,566

 

Linn Park

 £154,548

 

 

 

 

Wales

 £169,880

 

Welsh Parks Av

 £210,966

24.1%

 

 

 

Cardiff

 £216,083

 

Cardiff Parks Average

 £220,723

2.1%

Bute Park

 £196,286

 

Roath Park

 £263,407

 

Victoria Park

 £202,477

 

 

 

 

Swansea

 £161,144

 

Swansea Park Average

 £201,209

24.8%

Singleton Park

 £201,209

 

Cwmdonkin Park

 £201,209

 

Brynhill Park

 £201,209

 

 

 

 

UK

 £206,909

 

UK Parks

 £393,993

90.4%

Source: Zoopla Z-Index


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