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Living near a landmark with a view of the Angel of the North or the Bronte Parsonage is a dream come true for some house hunters.
A dream that many people would be willing to pay extra for. In a recent study by thinkmoney living near the parsonage where the Brontës lived and wrote could boost property value by 24 per cent. While living in Gateshead within spitting distance of the Angel of the North could add an extra 30 per cent to the value of the house.
National Trust Wightwick Manor near Wolverhampton had the greatest impact on house prices, boosting them by 60 per cent. However, not all landmarks are created equal.
Homes close to Cardiff Castle were found to be less in demand than properties in the rest of the city. In fact, living in the shadow of the castle could knock up to £56,624 of a home’s value.
In Leicester, the National Space Centre was found to knock £42,624 off nearby property prices. If you happen to live not far from The Deep Aquarium in Kingston Upon Hull you could loose £16,687 of your house’s value.
However, the landmark that proved to be the most detrimental to house prices was living by a football stadium. Football might be ingrained in British life, but it is doing nearby property prices no favours.
Out of the 20 biggest stadiums in the UK, only four were found to increase house prices. While, Anfield and Goodison Park, in Liverpool, was found to have the biggest impact on the value of a home, knocking 51 per cent of its value.
It was a similar story for homes close to Elland Road in Leeds. The price of properties was found to be 49 per cent less than average house prices in the rest of the City.
‘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,’ explains Zoe Patrick, director of sale and letting at Patrick Oliver.
‘Therefore, whilst landmarks can add an intrinsic value, there are so many other factors that will always be considered as well,’ she adds.
Would you pay more or less to live for a view of your favourite landmark?