What can Increase (or Decrease) your House Price

News What can Increase (or Decrease) your House Price

What can Influence House Price

When we view a potential new home, most of us are thinking of ways in which we could increase the house price in the future but, what about other factors which we can’t control? We took a look at some of the external influences which can affect your house price.

• Most of us have heard of the “Waitrose Effect” and this isn’t just a myth. According to Lloyds Bank, living near a Waitrose can add up to £36,480 on to your house price. Waitrose aren’t the only ones though as Sainsbury’s can add up to £26,081 and Lidl can increase it by £6,416.
• Take a look at the street name of your prospective new home as this can also influence the price. If you live in a “Warren” or “Chase” you can expect your house price to be between £400,000 and £600,000 and royal names such as King, Queen or Prince can also make a positive difference to price. Don’t be tempted by a rude street name for the comedy value though, these tend to sell for a lot less than average.
• The local school’s Ofsted Report will also hugely effect house prices whether this is a primary or secondary school. According to Lloyds Bank a good report can add in excess of £21,000 onto your house price.
• Living in a quaint market town can also add to the value of your house according to Zoopla. These pretty little towns can over double the national average house price and if you live near a farmers market this can also increase the house price by over £80,000!
• At the other end of the scale, wind farms can knock around 12% off your house price. Houses at number 13 are negatively affected by house price too, selling for over £6000 less than their neighbours, 30% of buyers have also admitted to avoiding buying a house at number 13.

Whether you live near a Waitrose, live on a Warren or live at number 13 we are happy to move you locally, nationally or internationally so get in touch with us today for a free quotation.