High Performing State School – Living near a school with an excellent OFSTED and exam results will make a huge difference when selling your property, especially if the schools have a catchment area. Live near a high-performing state school and you are ahead of the game when it comes to selling your house.
A map produced earlier this year by estate agent Savills showed that properties close to good schools could fetch 25% more than those less well situated. So, even if you don’t have children, watch the exam results of your nearest school like a hawk.
Most people who have bought or sold property know about the ‘Waitrose effect’. Which is to say that if there is a store nearby, it is one of the first things estate agents mention.
So it was no surprise when a recent Lloyds Bank report put a figure on the Waitrose effect – 12%, or nearly £40,000, on the average property. That’s what you can add to the value if there is a certain supermarket beginning with ‘W’ in the area.
Houses with well-maintained gardens sell for more than ones where the garden looks like a jungle in Borneo and one where rats raise families in the shrubbery.
A recent survey by HomeSearch put a figure of 20% on the value which a tidy garden could add to a property.
Never mind Waitrose. If you are lucky enough to live in a market town, you are laughing all the way to the bank.
According to research last year by Lloyds, properties in market towns were typically worth £25,000 more, than similar properties in other towns in the area.
We have become so obsessed with food, courtesy of TV cookery shows, that a top restaurant can work wonders for the reputation of an area.
Research by the website prime location.com in 2012 showed that, in some areas with Michelin-starred restaurants, property prices were worth 50 per cent more than the regional average.
You might not like slogging up the hill from the station at the end of the day, but if you live on a hill, your property will probably be worth more — a lot more, if you heed research carried out by Zoopla.
The average price of properties with a ‘hill’ in the address was more than double that of properties on bog-standard ‘streets’.
Buying a house on a crescent is also a sound investment. Research published last year by Wetherell estate agents found that, in Central London, properties on crescents typically commanded a premium of 40 per cent.
Houses in squares or in a mews also scored well, while those with ‘road’, ‘grove’ or ‘court’ in the address were seen as less desirable.
This research comes from America, but one would confidently expect similar findings in this country, given our affection for leafy suburbs.
A study in Portland, Oregon, in 2013 found that houses in streets where there were trees between the pavement and the road fetched an average of $7,000 (£4,700) more than houses on tree-less streets.
As you would expect, sea views command a hefty premium — up to 66% in the South-West, according to research by Knight Frank. Estuary views (82%) and harbour views (81%) were even more sought after.
Research by the website globrix.com in 2011 found that one in 14 people pay a premium for a property with a name rather than a number. A house name can add between 0.5-% in value, according to estimates.
Odd House Number
And, oddest of all,1 Sandy Lane trumps 22 Sandy Lane.
A study by Zoopla found that average odd-numbered houses fetched £538 more than their even counterparts.