They say you can’t choose your family, but you can choose your neighbours and it seems they have a bigger impact on your home then you realise.
But how much cash would you be willing to splash for good neighbours? Can you even put a price on it?
Property experts at PriceYourJob.co.uk were curious to find out the impact of good neighbours on property values by surveying 2,341 homeowners to ascertain which neighbourly kerb appeal features Brits would be willing to pay a premium for and just how much.
PriceYourJob then utilised the data to reveal how much extra properties per region in England could see in added value.
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 claim 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.
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) *.
|Region||Avg price of house per region (£)||Increase in avg property value with ‘good’ neighbours (£)||Total avg price + increase (£)|
|Yorkshire and the Humber||180,177||5,405||185,582|
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.