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 Blooming house prices in 'floral' towns

 

Tuesday, March 22, 2005


Flourishing house prices are a feature of towns than encourage landscaping and floral displays, according to research.

Halifax Estate Agents has analysed the house price performance of the UK's most attractive towns and cities. The survey looks at gold medal winners in the "Britain in Bloom" competition conducted annually by the Royal Horticultural Society.

Towns that have won gold in the Britain in Bloom competition had house prices up to 87% higher than the national average, the group said. Twenty two out of the 32 towns and cities surveyed, which have won "Britain in Bloom" gold medals since 1994, have house prices above their regional average.

On average, house prices in towns & cities with an award-winning approach to landscaping and environmental management tend to be 23% higher (£40,000) than their regional average.

Five towns have a house price which is £100,000 more than their region's average house price; the premium is highest in Stratford-upon-Avon at £138,000.

Of the cities and towns which won gold medals in 2004, Ilkley in Yorkshire and the Humber has seen the strongest house price growth, up 32% over the last twelve months. Ilkley also has the highest house prices of any category winner in 2004, at £274,238.

Tim Crawford, group economist at Halifax Estate Agencies said, "The British love affair with attractive towns is as strong as ever, so house buyers are clearly willing to pay a premium to live in picturesque surrounds."

The key findings are:

Bath has seen the strongest performance over the past ten years of any of the "Britain in Bloom" gold medals surveyed. Prices there have increased by 286%, followed by Oxford (263%), Harrogate (258%) and Christchurch (256%).

The South West has the most Britain in Bloom gold medal winners surveyed, 8 in total. This is followed by the South East (4), West Midlands (4) and the North of England (4).

House price performance has been slightly better than average for the Britain in Bloom Gold medal winners. Over the past ten years they have seen, on average, a 203% increase in house prices compared with a 182% increase in prices in their respective regions.

Of the cities and towns, which won Britain in Bloom gold medals in 2004 Ilkley in Yorkshire and the Humber has seen the strongest house price growth, up 32% last year. Ilkley also has the highest house prices of any category winner in 2004 - £274,238.

Best Performing Britain in Bloom Gold Medal Winners

City/Town

Region

Year of latest
Britain in Bloom
gold medal

Average house
price 2004
£s

Regional house
price 2004
£s

10 yr
change
%

Bath

South-West

2001

271180

195755

286%

Oxford

South-East

2002

287089

235331

263%

Harrogate

Yorks & the Humber

2003

241026

137865

258%

Christchurch

South-West

1996

272527

195755

256%

Bournemouth

South-West

2002

193726

195755

248%

Woking

South-East

1998

328201

235331

245%

Stratford upon Avon

W-Midlands

1994

297171

159022

239%

Cheltenham

South-West

2003

216405

195755

239%

Barnstaple

South-West

2003

189788

195755

232%

Bury St Edmunds

E-Anglia

1999

199561

177131

225%

 
 
     
     
 

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