With the Chelsea Flower Show fast approaching, research by central London estate agency, Bective, has revealed that a well landscaped garden is one of the most lucrative additions London homeowners can make when it comes to boosting the value of their home.
For the first time ever, the beloved Chelsea Flower Show is taking place at the end of September rather than in the spring with the gardening and horticulture showcase being held between 21st-26th September.
While the average London home is unlikely to boast the sort of garden space that will be on display at this year’s event, research by Bective has revealed that mere presence of a garden space can boost the value of a London home by nearly £100,000, with a properly landscaped offering adding far more in value.
How much does a garden add in value?
Previous research has found that the addition of garden space can boost a property’s value by as much as 20%. Based on the current average London house price of £494,673, that’s an increase of nearly £100,000 (£98,935).
However, lengthy lockdown restrictions have emphasised the importance of a usable garden space and London’s homeowners could seriously cultivate the value of their home should they draw inspiration from the Chelsea Flower Show.
A previous study by the Post Office found that a well landscaped garden can increase a property’s value by a huge 77%. That’s an additional £380,898 on the average London home and dwarfs the value added from other popular additions such as a home gym (£217,656), a home extension (£183,029), a walk-in-wardrobe (£168,189) and even a new kitchen (£128,615).
While more outdoor space is a hot commodity across the entire capital, a well landscaped garden can add the most value within the Royal Borough of Kensington and Chelsea – home to the Chelsea Flower Show.
With an average house price of over £1.3 million, the addition of a garden alone is enough to add £266,499 to the value of a home in Kensington and Chelsea. However, a fully landscaped garden could add a staggering £1m to the price tag of a Kensington home if executed correctly.
The same project would add between £500,000 and £700,000 in value on the average home in Westminster, Camden, Hammersmith and Fulham, City of London, Richmond and Islington.
The value of outdoor space for apartments
However, the DNA of the London property market means that many homeowners living in apartments simply don’t have the luxury of a garden.
But all is not lost, not only can a roof terrace or balcony satisfy the need for an al fresco aspect to your home, but it is also thought to add as much as 10% if approached creatively.