Living near landmarks boosts house prices, research suggests

Living near landmarks gives a boost to house prices compared to other homes in the surrounding area, research from banking services provider thinkmoney suggests.

Homes near Wolverhampton’s National Trust Wightwick Manor for example are 60% above typical house price in the area, or £104,180 higher.

Other good landmarks to live nearby are Glasgow’s Hunterian Art Gallery and Bristol’s Clifton Suspension Bridge, with a 44% and 42% increase on the local house prices respectively.

However the trend isn’t true everywhere. Living near Cardiff Castle is 22% cheaper than living in the city, £56,624 lower.

Zoe Patrick, director of sales & letting at Patrick Oliver, said:

“Living near a local landmark can help sell your home, but it does depend on the landmark.

“As some will love being next to an icon, others will find the crowds and attention associated with tourism spots too much.

“Therefore, whilst landmarks can add an intrinsic value, there are so many other factors that will always be considered as well.”

While football stadiums are modern landmarks, living near them tends to be 51% cheaper than the surrounding area.

Indeed, of the 20 biggest football stadiums in the UK, only four increased house prices.

You can read the full findings from thinkmoney here.

Kindly shared by Property Wire