Green Spaces Increase Lancaster House Prices By Average of £2,500

If your home is close to a green space, it could be worth more than an equivalent property which is more than 500 metres away from a green space.

A new study by the Office for National Statistics has shown that homes located near parks, gardens, playing fields and other publicly-accessible green spaces attract a higher selling price.

Specifically, houses and apartments located within 100 metres of public green spaces are, on average, £2,500 more expensive than those located more than 500 metres away. This equates to a premium of 1.1%.

Public green space has the greatest impact on the price of detached house. These homes attract a 1.9% premium if they are within 100 metres of a public green space, in comparison, the impact on apartment values is lower.

There are other benefits to living near green spaces. The Thriving Places Index found that in areas with more green space, fewer people have severe mental illnesses, and people rate their feelings of anxiety as less severe.

We’re lucky here in Lancaster.

In Lancaster city centre (LA1 1 postcode) 16.3% of land is green space

This is way above the regional average of 2.8% of public green space in urban areas, and includes Williamson Park, the Quay Meadow, and the park on Dallas Road.

Map of LA1 1 postcode in Lancaster city centre

Where is your favourite green space in Lancaster, and why?