Property: Georgian properties cost £203,745 more than average home – ‘easy to see why’
House prices: Expert discusses 'interesting' pricing differences
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Research by MoveStreets, the property portal designed for the mobile generation, has revealed how much more homebuyers are willing to pay for a Home Alone style house in the current market. Georgian style homes carry “serious curb appeal” according to MoveStreets CEO and co-founder, Adam Kamani.
The property portal analysed the asking price of Georgian homes currently on the market across 15 major cities and how this asking price compared to the rest of the surrounding housing market.
The research unveiled on average, homebuyers are looking to pay £727,903 for a Georgian home in the current market.
This is £203,745 more than the average asking price of a standard home in the same area, a 39 percent premium.
Georgian properties are all about symmetry, with the front door often right in the middle of the home.
They also usually have symmetrical windows, shutters and columns.
These features can make them highly appealing.
According to MoveStreets, Liverpool has the highest Georgian home price premium.
The property type carries an average asking price of £633,306 in the city, 123 percent higher than other style homes in the same area.
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Next was Newcastle, where a Georgian property comes at a premium of 90 percent, followed by Oxford, where the property type is 61 percent more expensive compared to the rest of those on the market.
In Nottingham and Cardiff, the asking price of the property type sits at a premium of 50 percent compared to non-Georgian homes.
York is home to the lowest Georgian property price premium of all cities analysed by the property portal.
Homebuyers are looking to pay an average of £564,292 for a stunning Georgian home in York, 15 percent more than the cost of other properties on the market.
Adam Kamani, CEO and co-founder of property portal MoveStreets, said: “Georgian homes carry serious curb appeal and it’s easy to see why.
“Of course, they tend to be far larger than your average home and, as we know from the pandemic, buyers are happy to pay up for more space.
“It’s interesting to see that two of the three Georgian price hotspots are located in the North.
“This is probably due to a restricted level of Georgian style property stock rather than a hotbed of fanatical Home Alone homebuyers.”
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Recent research from OnlineMoneyAdvisor.co.uk showed what interior design style can add over £127,000 to a property price.
The research revealed the design style that can add the most value to a home is mid-century modern.
The experts said: “This design style is characterised by a minimalist approach, clean lines, functional use, ornamentation, and organic shapes.
“On average, houses with this style are valued at £330,000, which is a whopping £127,980 more than the average house prices in the same area.”
Following mid-century modern was Scandinavian, which could increase a property price by a huge £11,925.
Average house prices with this design are valued at £425,000.
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