Quantcast
Menu

Editor's Pick

House prices bloom near to award-winning gardens

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
24/05/2022

Homes by the Chelsea Flower Show site attract a premium of £2.2M on the London average

Just being close to one of the nation’s finest gardens could add thousands to the value of your home, according to Lloyds Bank.

The bank analysed the price premiums on homes close to some of the country’s most notable gardens.

It found that the average price of homes neighbouring 50 of the country’s award-winning gardens in 2022 is £466,912. That’s a typical premium of £107,189 compared to the average house price for the counties they are in.

Biggest premiums

Properties in Chelsea, home of perhaps the most celebrated of the Royal Horticultural Society’s
shows, attract a county premium of 276% or an eye-watering £2,175,519.

Brockhole Garden, in Windermere, garnered the second highest premium of 161%, £338,528 more than the Cumbrian average.

Third were homes in the vicinity of RHS Bridgewater, Worsley, which are on average 144%, £295,780, higher than Lancashire as a whole.

Homes in Worsley are now £500,848, harvesting owners a £132,383 annual rise (36%), compared to an average rise across England and Wales of 5% (£16,465) to £348,317.

Three further towns next to exhibition gardens also saw prices rise by more than 20%.

Prices in Stourhead Gardens, Warminster, rose by 22% to £382,808, Maidstone, home of Leeds Castle, saw an increase of 22% to £525,195, while house hunters in Wellington must now stump up 20% more than a year ago, with homes near Cothay Manor Gardens cropping up at an average of £428,329.

Jo Harris, managing director at Lloyds Bank, said: “Chelsea, which has long been one of the most desirable suburbs of the capital, not only benefits from its association with the RHS flower show but is also home to the country’s oldest botanical gardens. Where the external space with homes is limited, having these show gardens close by provides an attractive alternative.

“While homes surrounding Chelsea Physic Garden might be seen as the cream of the crop – attracting both the highest prices and the biggest county premium, the majority of those areas with the highest premiums were near gardens across the North and Midlands, like Brockhole Garden in Cumbria or RHS Bridgewater near Manchester.”