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Home-buyers ‘want gardens and parking spaces’

Estimated Read Time: 2 mins

Carrie Tennick, August 21, 2019

Home-buyers are prioritising gardens and off-street parking, a new survey has revealed.

According to hard landscaping manufacturer Marshalls, 54% of respondents to its survey said the most important feature for them is a private garden.

A further 24% said they were looking for off-street parking in a new home.

Outdoor space valued

The survey results show that today’s buyers consider outdoor space an important factor in their lives.

Chris Harrop, director of sustainability and marketing at Marshalls, said: “The results of this research show that people really value good quality outdoor space at home and that it’s a strong deciding factor when house-hunting.

“As the study shows, an investment in your garden or drive not only benefits your lifestyle, but it also adds value to your home if you decide to move on. Creating and maintaining a garden can give you years of fun and relaxation with the family – but it’s also good to know that it will encourage buyers when you come to sell.”

Garden space at a premium

Those looking for outdoor space will find they have to pay for it, said Marshalls, who analysed property prices across the country for the study.

It found that compared to an average London house price of £482,200, properties with gardens come in at an average of £813,500.

The researchers found that house hunters in London will have to pay an extra 69% for a garden. Property purchasers in Leeds will find it far more affordable, though. A garden will cost an additional 10% in the West Yorkshire city.

Paying to park

According to the survey, 45% of respondents complained about finding a parking space close to home. The research found that people without their own parking spaces spend an average of seven minutes per day looking for a spot close enough to their homes. This adds up to 42.5 hours annually. With such an in-demand feature, it is unsurprising that properties with private parking can command a higher asking price.

The survey found that Leicester enjoys the highest value added for parking. Driveways can add a further 60% to asking prices in the city.

It’s much cheaper to buy your own parking space in Liverpool and Bristol, however. Homes with driveways in these areas are typically only 4% more expensive.

Location, location, location?

Marshalls also found that buyers aren’t valuing location as highly as some may have expected. Just 18% of survey respondents said it was the most important factor when looking for a new home.

Meanwhile, the size of a property was only a priority for 4%.

Whatever your list of requirements for a new home, First4Lawyers can make buying a house more straightforward. For help with the conveyancing process, just give us a call, request a call back at the top of your screen or start your enquiry here.