Owning a garage or allocated parking space has become the top choice in buyers ‘wish lists’ when looking for a new home. Research by Bradford & Bingley Estate Agents (BBEA) found parking came out top of the list for 32% of respondents, closely followed by a garden and proximity to good schools.
Gary Verity, head of retail property services at BBEA, said: ‘We were surprised that car parking topped the list, particularly when we are considered a nation of garden lovers, and many parents are fiercely competitive about getting their children into the top schools.’
The agent pointed out that buyers in central London will pay up to a £50,000 premium for a property with an allocated parking space or garage. Elsewhere buyers will pay premiums of between £10,000 in smaller towns to £20,000 in bigger towns and city centres for parking.
Having a garden was top priority for 23% of respondents with 21% looking for particular school catchment areas. Verity said: ‘Having a garden is always a major a selling point, and can add up to £20,000 on the value of your home.’ Least important to buyers (3%) was an en-suite bathroom.