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Home / Latest News / How living by a Welsh city park can add up to 48% to your house value
Property by the lake

How living by a Welsh city park can add up to 48% to your house value

If you live near Roath Park in Cardiff or Cwmdonkin Park in Swansea you probably know about the benefits of having two of the most beautiful parks in Wales on your doorstep.

But did you know recent research claims that it can add up to 48% to the value of your house if and when you come to put it on the market.

This equates to up to a staggering extra £90,000 premium for house hunters to pay.

Gareth Lovering Photography/Flickr
Cwmdonkin Park Swansea
Swansea’s Cwmdonkin Park

HouseSimple.com looked at average property prices close to a main park in each of the UK’s 50 biggest towns and cities and compared them to the average property price for the wider area to see what premium home buyers might have to pay to buy a property close to a park.

And Roath Park came fifth in the table, behind the main park in Southend-on-Sea, Hyde Park in London, Aberdeen and Newcastle.

Roath Park
The lake at Cardiff’s Roath Park

According to the research, living near this very popular Victorian park can add up to £90,000 (48%) to the value of a home, with the average property price for the surrounding area £272,087 compared to the average property price for the city of £182,862.

But living opposite the park in one of the substantial period properties can command a much higher price tag of between £600,000 and well over a million.

Roath Park 3bed flat

Swansea’s Cwmdonkin Park can be found at number 12 in the top 50 list, and offers residents of the surrounding area an extra 23 per cent on the value of their home.

Around this pretty park the average house price is, according to HouseSimple, £204,866 compared to the £166,001 average for the city.

A substantial detached property for £450,000 near Cwmdonkin Park with Peter Alan
A relaxing place to stop and admire the view

Alex Gosling, CEO of HouseSimple.com comments: “Living near public parks or green spaces is often one of the top wishes amongst buyers and that high demand inevitably impacts on the price they will pay.”

Samantha James of estate agents Savills in Cardiff agrees saying: “Living with a park view does definitely add value and at the very least makes a property more saleable.

A park and lake view from this apartment means a double dose of premium price
“Living near Roath Park in Cardiff or living with an uninterrupted, sweeping view of the lake will certainly add value to your home to the tune of at least 30%.

“Buyers for these types of homes are typically young, active families or owners that have the responsibility of a young generation staying with them a lot of the time.

“Purchasing a house near this park and lake is definitely an investment. These houses will always sell and will always hold their value.”

But while the two Welsh city parks that appear in the UK top 50 have made purchasing a home in that area unaffordable for many house hunters, there are many smaller parks in both cities that can offer the benefit of a neighbouring park without the inflated price.

Samantha says: “There are more affordable homes near parks in Cardiff than those found near Roath Park, such as Heath Park.

“Here a view of the park or a stroll to the open space is again very popular among young families but more affordable for many.” Four bedroom home next to Roath Park is for sale with Jeffrey Ross for £625,000

With a view like this, little wonder properties with park views will always be popular

Alex Gosling adds that if a particular park is top of a buyer’s wish-list, they may have to walk many blocks to enjoy it: “Many buyers may not realise just how much of a premium they could be paying for the pleasure of living close to a ‘free’ park.

“That doesn’t mean they aren’t good value and an investment but for real value it’s maybe worth looking at roads that are further away.”

 

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