Property News > House prices higher if near a landmark

House prices higher if near a landmark

Properties in close proximity to a landmark are generally priced higher than other homes in the surrounding area, according to research from banking services provider thinkmoney.

For example, homes near Wolverhampton’s National Trust Wightwick Manor are valued 60% higher than others in the area – a premium of £104,180.

Meanwhile, Glasgow’s Hunterian Art Gallery and Bristol’s Clifton Suspension Bridge have a
significant impact on local house prices, with nearby properties typically 44% and 42% higher respectively.

However, Cardiff Castle bucks the trend, with houses nearby some 22% or £65,624 cheaper
than elsewhere in the city. Zoe Patrick, director of sales & letting at Patrick Oliver, said: “Living near a local landmark can help sell your home, but it does depend on the landmark.

“As some will love being next to an icon, others will find the crowds and attention associated with tourism spots too much.

“Therefore, whilst landmarks can add an intrinsic value, there are so many other factors that will always be considered as well.”

Football stadia also tend to have a negative impact on house prices. Indeed, properties on
the doorstep of the UK’s landmark grounds tend to be around 51% cheaper than areas
slightly further afield.

When assessing the price of houses in close proximity to the UK’s 20 biggest football
stadiums, the stadium’s presence added value in just four cases.

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