Topical Content Articles -
The perfect neighbourhood
     Return to Main Planning Guide  I  topical content

Plan4 Group - Consolidating information on the web

The perfect neighbourhood - what it costs

Railway lines at the bottom of the garden, a takeaway on one side of your house and a pub on the other side – see how they all affect your property’s price

You might think that Indian takeaway next door is manna from heaven and the airport down the road is so convenient. But in actual fact they are reducing the value of your property by as much as 15%.

A survey by property website Hometrack reveals exactly how much your surroundings can increase and decrease the value of your home.

The plus side

Somewhat surprisingly, good road links don’t come out on top of the amenities that add value to your home. In fact, a main line railway line is more of a boon and can add up to 11%, or £14,872 based on Hometrack’s current average property price of £135,200.

Links to a motorway or a dual carriageway do come in second, worth an extra 10% or £13,250, with a top state school adding 8% or £10,816. Other plus points include green spaces, places to eat, drink and socialise. Again somewhat surprisingly a good NHS hospital comes in near the bottom of the list, suggesting many of us are now happy to go private, and only adds 2% or £4,056 to the price.

Here are the things likely to add value to your home and how much they will add:

Main line railway line +11% +£14,872
Quality foodstore +4% +£5,408

Motorway/dual carriageway links +10% +£13,520
Good NHS hospital +2% +£4,056

Top state school +8% +£10,816
Sports club/exercise facilities +2% £4,056

Green space (countryside/park) +6% +£8,112
Cinema/entertainment +1% £1,352

Restaurants/pubs/nightlife +5% +£6,760
Post office and bank +1% £1,352

The minus side

The things that affect property prices adversely aren’t too much of a surprise. Rundown or derelict properties in the area are most likely to affect your home’s price, lowering it by an average of 18% or a whopping £24,336. And while you may like that takeaway or nightclub across the road, it could cost you £20,280 in lost value.

Other things that will reduce the value of your home quite substantially include being under an airport flightpath, surrounded by derelict land and near a waste station. Unsurprisingly being on a busy road isn’t an ideal scenario either.

Here are the things likely to reduce the value of your home and how much they will cost you:

Rundown/derelict housing -18% -£24,336
Local authority housing -10% -£13,520

Airport flightpath -15% -£20,280
Poorly rated local schools -10% -£13,520

Late-night drinking/music venue -15% -£20,280
Electricity pylons -9% -£12,168

Smelly takeaways -15% -£20,280
Prison -8% -£10,816

Waste/refuse station -15% -£20,280
Railway line -6% -£8,112

Busy road -12% -£16,224
Mobile phone/telecoms masts -3% -£4,056

Are there exceptions to the rule?

Of course these findings represent a broad view of the things likely to increase and decrease property prices. In bigger cities, London for example, being on a flighpath and having a tube line at the bottom of your garden are not such big concerns as they're an accepted part of the local environment.

Having said that, from personal experience the novelty of hearing the first Piccadilly Line tube en route to Cockfosters at 5 in the morning can wear off quite rapidly.


New simple to understand Planning Guide... "Puts dozens of strategies & risk assessments procedures that you should be completing BEFORE you present a scheme for formal Planning Approval in the UK."  (Order your 'ebook' today & find out how the 'Professional Planning Consultant' prepares a scheme for residential development PRIOR to formally submitting an extension scheme or full site redevelopment to the Planners!).

Obtaining Planning Permission for residential development in either extending your property or redeveloping the site for new dwellings needs careful presentation & a risk assessment prior to submitting for Planning Consent. A badly presented scheme to the Planning Department by the Novice home owner can lead to an Automatic Rejection & a Planning Refusal that could be hard to overturn. Our MAXIMUM BUILD Guide will assist you in assessing your sites potential & what areas you can exploit prior to submitting your scheme for Planning Permission.

click here to find out more about our guide 

To compliment our Planning Guide we have also produced a UK specific Specification Manual solely aimed at the domestic/residential side of building.  Are you completing your own drawing plans for the Building Regulations as well? Why not obtain our 'Specification Manual' to assist you with obtaining Building Regulations Approval as well.  Alternatively you may have already secured Planning Approval & just need this document.

click here to find out more about our Specification Manual 

Please note that articles on this site do not constitute regulated financial advice, which recommends a course of action based upon the specifics of your personal circumstances. The articles are intended to provide general personal financial information. We urge you to consult an Independent Financial Adviser (IFA) before making any important decisions about your finances. Call 0800 085 3250 for details of IFAs in your local area. Any statement regarding financial services products and tax liability is based on legislation and tax practices as at 1 January 2004, which is, of course, subject to change.The value of any tax benefits or reliefs depends upon the individual circumstances of the investor.When investment performance is mentioned you should remember that past performance is no guarantee of future performance. Where products have an underlying investment content, in many cases the value of the investment can fall as well as rise. For with-profit based investments, there is no guarantee as to the level of bonuses that will be declared, if any. Where mortgages or secured loans are explained do remember that your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. All mortgages are subject to underwriting, status and are not available to people under the age of 18.

Return to main Planning guide

Ads by Google

Schedule of Articles

property investing
property refurbishment
buying overseas property
moving house
home letting
buy to let
home improvements

top 10 celebrity areas
6 up & comming areas
5 signs that an area is up & comming
city types yearn for the country in town
your place in the sun
equity release
planning permissions & extensions
estate agents
rent or buy
buy to let
mortgage overpayment
mortgage endowments
mortgage protection
stamp duty
self build your home
electrical surveys
the cost of moving in
the perfect neighbourhood
council tax
house price league
good neighbours
stamp duty land tax
top 20 towns 2003
cut the cost of moving
interest rates
buying in scotland
dream homes
first time buyers
the worth of uk homes
bad estate agents
keeping up appearances
home improvements


Please note that articles on this site & any other 'planning-approval' related web site does not constitute professional advice. All articles are intended to provide a general view of many subjects. We suggest you to consult a solicitor before making any important decisions.  The author is not an expert in any given field.

Copyright 2004 all rights reserved