Can you expect to pay a premium for a truly amazing view? Mark Lawson and Harry Gladwin speak to The Times
Views are always in demand and tend to command a premium. Mark Lawson, Partner at The Buying Solution, says; ‘35 percent of our clients will put ‘wide reaching views’ as a specific requirement and towards the top of their wish lists. Importantly a good view can command a premium of between 20 and 35 per cent depending on how special, far reaching and unspoilt it is. A view is so attractive to so many because in the UK whether by the sea or out into the unspoilt countryside it will be ever changing with the tides and seasons. It also usually ensures a level of privacy, peace and quiet and protection.’
The exact premium you will pay will differ from region to region. Areas Of Outstanding Natural Beauty (AONB) are particularly popular. Research shows that the Surrey Hills is the most expensive with an average sale price of £800,000. The Peak District and Lake District also have high premiums when compared with other areas in their counties – 75 per cent and 84 per cent respectively.
Although good views of either beautiful rolling countryside, the sea or rivers can be extremely attractive. Harry Gladwin, Partner at The Buying Solution, offers words of advice;
1) If a house has an extraordinary 20 mile view, the chances are it is on top of a hill and is therefore quite exposed to the elements. A house with a view which is breath taking in June may well be absolutely Baltic in January.
2) A view over many miles of open countryside can be wonderful on the day of Completion, but what is the risk it might change? A large chicken farm, wind turbine, new road etc on land which you don’t own could turn a view into an eyesore, so weighing up this risk before purchasing is an important part of the due diligence.
3) The best views are usually the ones you own. Whilst it may not be so far reaching, a ‘middle distance’ view over fields and woodland which you own tends to provide the best of all worlds – more secluded, more controllable and comforting
To read the full article click here; https://www.thetimes.co.uk/edition/bricks-mortar/whats-the-price-of-a-truly-amazing-view-xgk07v063