Data Analysis: Premium for Homes Near Amenities in London and Beyond

London Leads the Way with High Premiums for Homes Near Amenities

London has long been known for its high property prices, but a new study has revealed just how much of a premium buyers are willing to pay for homes near sought-after high streets and shopping areas in the city. According to the data, homes near amenities in London carry an average price of £2,405,712, a staggering 378.6% increase compared to the city’s overall average house price of £502,690.

But it’s not just London where buyers are shelling out extra cash for convenience. Outside of the capital, regions across the UK are also seeing significant premiums for homes within walking distance of town centers. In Yorkshire & Humber, for example, homes near town have an average asking price of £248,449, representing a premium of 21.3%.

Verona Frankish, CEO of Yopa, commented on the findings, noting that homebuyers often value living close to amenities and are willing to pay a premium for the convenience. She also advised buyers and sellers to research recent sales in their area to get a better idea of the market.

For those looking for more investment insights, Yopa recommends checking out their buy-to-let area guides for 2024. Whether you’re buying or selling, it’s clear that proximity to amenities can have a big impact on property prices.