Ever since lockdown eased, the demand for homes with gardens or great size yards has gone crazy. Especially if they face south or west.
We’ve now registered over 750 new buyers since mid-May, and the desire for outside space has been asked for in over 80% of the buyers registered. Those looking for apartments are wanting balconies. Never has the need for fresh air and somewhere to sit out been as great.
It got the office talking, especially after Cassie got asked by a client – how much value does having a garden add to a home? Is this why terraces in Freehold are more expensive?
Gardens do add value. They also help homes sell more quickly, this is evident in many of the properties we have been selling recently. Many of sold in days and many have received multiple offers.
Research shows that that homes with a south facing garden achieve a 7% asking price premium and on average sell 2 days faster.
Three and four-bedroom properties with south facing gardens were compared to non-south facing properties, for asking price and time to sell. On average south-facing gardens are priced £22,695 higher. ( This study was UK wide, not just in Lancaster )
The largest asking price premium was 14%, recorded in Yorkshire and Humber while the smallest was 2%, in the South East.
Not only does a south-facing garden achieve an asking price premium but they also sell quicker. Whilst the graph shows no difference in time scales for the North West in general, closer to home in Lancaster and Morecambe, we have seen many of these homes get snapped up in matter of days!
Are you thinking of selling your Lancaster or Morecambe home? If so, we would love to talk to you. And if you do have a garden, we will let you know what you can do with it to help maximise the price you could achieve!
Call us on 01524 843322 or email me at michelle@jdg.co.uk