Property experts at PriceYourJob.co.uk were curious to find out the impact of good neighbours on property values across the country, and surveyed 2,341 homeowners to find out more, asking if they’d be happy to pay more for a property if neighbours had desirable kerb appeal, and what features would influence their decision most. PriceYourJob also ascertained how much on average Brits would be happy to pay a premium for.
Neighbourly kerb appeal features Brits would pay a premium for:
- Well-kept garden – 75%
- Well-kept driveway – 67%
- No overflowing rubbish in bins – 58%
- Bins out of sight – 56%
- No building work – 51%
- Security/alarm system – 48%
- Neat paintwork/exterior – 42%
- Fencing around property and garden – 39%
- Clean windows (no chips or rotting) – 22%
- Clean gutters – 15%
- High-quality DIY finishes – 14%
- Modern/well-kept cars in the drive – 8%
A well-kept garden is hugely important when viewing a property, as discovered by OnBuy’s Garden Furniture sector who found that 67% of British homeowners are more inclined to view a house where the garden is in a good condition.
Therefore, it’s somewhat predictable that PriceYourJob’s survey respondents claim they’d be willing to pay a premium for neighbours with a well-kept garden (75%).
Following not too far behind is a well-kept driveway, with 67% of Brits dubbing this the second most influential good neighbourly quality for potential added value.
It would appear, 58% would rather not see overflowing rubbish in bins, whilst 56% would rather not see the bins at all. After all, recent findings from SaveOnEnergy uncovered that 66% of Brits would fine their neighbours £20 for overflowing bins.
In the penultimate spot are high-quality DIY finishes with just 14%. In last place are modern/well-kept cars in the drive, influencing just 8% of the population.
Following on from the survey results, PriceYourJob.co.uk asked respondents how much extra they’d pay for good neighbours:
- 1-3% extra = 51% of respondents
- 4-7% extra = 44% of respondents
- 8-10% extra = 4% of respondents
- 10% + extra = 1% of respondents
To put this is into context, PriceYourJob.co.uk explored just how much extra properties per region in England could see in added value (up to 3% – as shown in the survey).
As expected, Greater London would see the highest average property value increase if homeowners paid up to 3% more for good neighbours. With an £659,985 price tag for properties in Greater London over the last 12 months, this would mean an additional £19,800.
Thereafter, South East is second, and should homeowners pay an additional 3% more, properties could see an additional £11,777 added to average values (£392,569).
South West is third (£8,905), with a potential property value of £305,741.
Yorkshire and the Humber is bottom of the table with the lowest average property prices over the last 12 months, at £180,177. If homeowners pay up to 3% more for neighbourly kerb appeal features, properties could see an additional £5,405.