Why Does Property Location Affect Price?

It happens to all of us, we want to buy that dream home but it’s a little bit beyond our budget, and we’re told it’s because of its location. We take a look at the aspects of house buying which affects a properties price based on its location.

Proximity to Transport Links

The distance to all transport links and major transport roots affect the price of a house. This includes everything from major road links such as motorways and highways, to main commuter links. It includes things such as railway stations and even underground stations when in larger cities and not so crucially it may also be affected by popular bus routes.

The same goes for business premises which will also be affected by transport links and added to this will be the availability of parking.

City centre locations will always bump up prices too as they tend to be prime areas for tourists and shoppers so space comes very much as a premium.

Education

Education will always have a large impact on a properties price. Those primary schools, middle and secondary schools and even colleges which perform well are likely to attract more interest and naturally demand goes up. These schools all have specific catchment areas, areas in which you are eligible to apply, so living within a high demand area will increase price.

Orientation

Where you are lucky enough to have a property with a garden which faces south (in the northern hemisphere) you are likely to pay slightly more for the property. This is because the sun rises and sets at a slight angle and it is thought that gardens which face south get the sun all day, which certainly comes at a premium in British Summertime, where the sun is always at a minimum anyway.

Open Spaces

Excluding inner city spaces, then those properties which are in the middle of the country side or green spaces will again come at a premium. Many cities have what is known as ‘green belt’ land on its outskirts which means it can’t be built on; naturally a property with a view over green belt land, fields or parks will always come at more of a cost.

There are no hard and fast rules about how location will affect the price of a home or business premises but those listed above will certainly have an impact. Depending on your requirements you will want to pick or avoid specific areas which have the above perceived benefits.

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