LONDON FACES GARDEN ‘TAX’
EXPERTS are warning of an increase in prices of properties with gardens in London as locals clamour for homes with outside space after being cooped up for three months.
With lockdown coming to an end, a garden has been voted top of the property wish list, with over three fifths (63%) in London saying the garden is the most important thing to consider when buying a home, according to new research by mortgage broker firstmortgage.co.uk
Outside space has long been a desired commodity at our homes, but since lockdown was imposed it seems it has taken on a new importance for homeowners.
A whopping 88 per cent of Londoners say they want to live somewhere with a garden, and over half (54%) in a poll of 237 people say they value somewhere private so they can avoid other people and stay safe, while almost one third want somewhere they can have a barbecue.
David McGrail, compliance director at firstmortgage.co.uk said: “We could see buyers having to pay a premium to get homes with outside space in the London. A garden can go a long way to helping people feel relaxed in their property, especially during a prolonged period spent at home. The fact almost half say that moving to a property with a garden is important shows a change in what is desired in property post Covid.”
Gardens also came out top in the wish list for future houses with 47% of people in London putting that as the top priority, ahead of the condition of the house (38%), friendly community (37%) and the proximity to transport (41%).
David added: “Coming out of lockdown, I think we will see a shift in where people want to live. It might be that people leave the city for the countryside or surrounding towns where outside space is more available.”