As Summer fast approaches, with the sun smiling brightly on London and the prospect of the 100th Chelsea Flower Show just around the corner, attention is swiftly turning to the attraction of a London garden.
According to Marsh & Parsons research, two comparable properties in the same area could vary greatly in price due to the impact of a garden or an outside terrace. A well situated, sunny facing garden can significantly boost the price of a London property, compared to one without, by as much as 20% or more. As the weather improves the importance of a garden or alfresco space such as roof terraces, balconies and gardens becomes an essential "must-have" for buyers.
If we place Notting Hill under the microscope, striking discrepancies exist between property types, specifically those which boast attractive outdoor space. For instance, this two-bedroom property with an outdoor patio garden (example) is £30,000 more expensive than another comparable two bedroom property in the same building (example). That represents a premium of around 5% for a property of relatively the same size, on the same floor and in the same building and primarily due to one having a private balcony.