Doh! Parks are nice, parks add value
Another one for the file of 'research pointing out the obvious' - Savills have done a survey that says that people like living near parks and will pay more for the privilege. Really?
"Homes next to an open space can expect an uplift in value of 12 per cent over properties in the same location with no park views. Even the presence of a park up to two streets away will result in an average 7 per cent uplift compared to streets with the same type of property away from open space."
Savills argues that, as a result of these findings, developers can add value to their schemes by leaving some of the area as open space. And although I mock, it is important that a source who the development sector trusts tells them this important fact. the next bit would of course to quantify the added value that quality of open space brings - i.e. it's no use having a handkerchief-sized 'park' with scraggy grass - design and location and an integrated public space strategy really count for something. Which again, you might think was a no-brainer - but its amazing how few people actually know how to do this well.
"Homes next to an open space can expect an uplift in value of 12 per cent over properties in the same location with no park views. Even the presence of a park up to two streets away will result in an average 7 per cent uplift compared to streets with the same type of property away from open space."
Savills argues that, as a result of these findings, developers can add value to their schemes by leaving some of the area as open space. And although I mock, it is important that a source who the development sector trusts tells them this important fact. the next bit would of course to quantify the added value that quality of open space brings - i.e. it's no use having a handkerchief-sized 'park' with scraggy grass - design and location and an integrated public space strategy really count for something. Which again, you might think was a no-brainer - but its amazing how few people actually know how to do this well.
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