Greenfingered home buyers pay £70k for a garden in the current market

Market analysis reveals that today's homebuyers are willing to pay a 12.9% premium to secure a home with a garden. In the UK, this equates to a significant £38,000 on the average home, and as high as £70,000 in London.

To understand exactly how much buyers are willing to pay for a garden, we measured the number of currently available homes that come with a garden against the overall current housing stock levels. We then analysed what proportion of available garden homes have already been purchased by eager buyers and compared their selling prices to those of gardenless homes.

Buyers head into the hot market as Spring approaches

As spring approaches and the weather warms up, house hunters are emerging in force after a chilly winter. A home with a garden is already a hot property, with 44% of UK homes listed with gardens already under offer or sold subject to contract (SSTC).

Where is demand at its strongest?

With the demand for garden homes on the rise, it's worth noting that some regions are experiencing stronger command than others. In Scotland, a staggering 58% of garden homes have already been purchased, followed by the South East and North West regions, both with 46%.

While the demand for garden homes is high, potential buyers can take comfort in the fact that the supply is also plentiful. In the UK, 81% of all homes currently on the market have some kind of garden. This number jumps to 94% in Northern Ireland and 90% in the East Midlands.

Garden stock falls below 80!

Interestingly, the only region where garden stock falls below 80% is London, where it dwindles at 61%. This can present another obstacle for buyers, who already face sky-high house prices in the capital.

Homes with a garden 12.9% higher than those without one!

Despite the ample supply of garden homes on the market, our analysis found that homes listed with a garden still command asking prices 12.9% higher than those without. This translates to almost £40,000 based on the average UK house price of £294,329.

Where are the highest premiums found?

As expected, the highest garden premiums are found in London, where limited space results in a staggering £70,000 price tag placed on a garden. However, it's worth noting that high garden premiums are typically only found in major urban areas. For example, gardens in the SouthEast region command an average premium of £52,000.

Even in regions where garden premiums are lowest, buyers must still be prepared to pay a substantial amount for the luxury of outdoor space. In the North East, for example, the average garden premium is £21,000.

‘A garden does come at a considerable premium’

- GetAgent CEO Colby Short

“The garden has always been a desirable property feature as it provides space for relaxation and social interaction with friends and family and this interaction is vital for our wellbeing, something that became particularly apparent during the dark days of the pandemic.

However, as our research shows, a home with a garden does come at a considerable premium, particularly in more built up areas where space is limited.

As a result, many urban homebuyers may find that they are forced to make sacrifices when it comes to the overall size of their home, if a garden is a feature that they simply can’t live without.”

Data and methodology

Table shows stock and demand levels for homes with gardens in the UK based on current market listings.

Table shows the price premium commanded by homes with gardens compared to those without.