New-build homes marketed as having a good view carry asking prices 81% higher than the wider new-build market, according to new analysis.
The average asking price of a new home in England is estimated at £380,536, compared with £690,475 for properties advertised as offering a good view – a difference of £309,939.
Research by UK Property Development finds the gap is even wider in London, where new builds marketed on their outlook average more than £1m.
That compares with an average new-build price of £494,002 across the capital, producing a difference of 109.2%.
REGIONAL DIFFERENCES
The South East records the next largest gap, with good-view properties averaging £915,767 – 88.4% above the wider regional new-build average.
The difference stands at 86.4% in the West Midlands and 85.6% in the East of England.
At the other end of the market, the North East records by far the smallest difference. Its average new-build price is £289,439 compared with £313,921 for homes marketed with a good view – an 8.5% gap.
Yorkshire and the Humber records a 67.9% difference, while the North West stands at 53.1%.
DEVELOPMENT PREMIUM
The analysis is based on estimated average asking prices and does not adjust for differences in property size, specification or location, meaning it does not establish that the view itself accounts for the price difference.
Andy Morrison (main picture, inset), Director of UK Property Development, says: “It’s not always easy to find new-build homes that boast stunning views – be they countryside panoramas or city vistas – because there are a limited number of such spots up and down the country that can also facilitate a new-build development.
“But the good news is that developers are still managing to find plots here and there which offer all of the gorgeous prospects you could wish for, you’ve just to seek them out, and when you do find them, they are likely to command a hefty price premium due to their scarcity.”
