The research also revealed that, on average, we'd be prepared to pay a £10,000 premium to secure a property with a garden.
Key research findings:
- Almost eight out of ten people would be prepared to pay a premium for a property with a garden
- Those aged 35-44 are most prepared to pay a premium
- Londoners and those in Yorkshire & Humberside are least likely to be prepared to pay a premium
- Almost one in 20 of those prepared to pay more for a property with a garden would be prepared to pay in excess of £30,000 more
The age group most willing to pay more for a garden are those aged 35-44 years-old. Here, almost nine out of ten (88 per cent) said they would be prepared to pay more for the outside space. Those aged 16-24 were least likely to pay more, with only two-thirds (66 per cent) saying they are prepared to.
Married couples are much more likely to be willing to pay more for a property with a garden, with 84 per cent indicating they would. This compares to just over a third (67 per cent) for those that are single.
Geographical differences
In both Yorkshire & the Humber and London only seven out of ten people (70 per cent) said they would be willing to pay more for a property with a garden. However, in the North and Wales this figure rises to 87 per cent and 85 per cent respectively.
Garden premium
The study revealed that on average, of those prepared to pay more, they'd be prepared to pay an extra £10,000 for a property with a garden. Just less than one in 10 (8 per cent) is prepared to pay in excess of £20,000 and one in 20 (4 per cent) would be prepared to pay over £30,000.
Colin Kemp, managing director at Halifax Estate Agents, commented: "Our research shows that many of us will pay a premium for a property with a garden. Making the most of your homes outside space could add real value and maximise any sale price."
