New research by Midlands estate agent John Shepherd highlights a rare combination in England’s property market: homes surrounded by greenery at prices below the national average.
Just five areas across the country offer an abundance of trees alongside affordable housing, with three located in the Midlands.
The study analysed the percentage of tree canopy cover in England’s local authorities and compared it to average house prices.
It found that just 15% of local authorities (45 out of 295) boast tree canopy cover exceeding 20%.
GREEN HAVENS
However, these green havens often come at a premium, with average property prices in such areas reaching £451,868 – 46% higher than the national average.
For those on a tighter budget, only five areas deliver both high tree coverage and house prices below the national average of £309,774.
The most affordable of the lot is Cannock Chase in the West Midlands, where the average home currently commands an average house price of just £229,057.
Norwich sits in second with an average property price of £243,339, whilst the West Midlands features again in the top three, with the Wyre Forest where the average home costs just £246,555.
The only other two areas of England to boast both a high degree of tree canopy cover and an affordable average house price are Redditch (£246,55), again in the West Midlands and Hastings (£267,327).
SIZABLE PREMIUM
Richard Crathorne, Chief Executive of John Shepherd, says: “For many homebuyers, an abundance of nature on their doorstep can be a significant factor when it comes to purchasing a home and, much like the close proximity of a good transport link in a city, a nearby area of natural beauty can command a sizable premium in less urban areas.
“As our research shows, those in search of green and pleasant woodlands will need a far bigger budget than most and the average value of a home in areas with a higher proportion of tree cover comes in considerably higher than the wider national average.
“However, homebuyers in the West Midlands have the best chance of securing green space at an affordable price, with three of just five areas with a high proportion of tree cover and a below average asking price being found in the region.”
