The perfect neighbourhood - what it costs

Railway lines at the bottom of the garden, a takeaway on one side of your house and a pub on the other side – see how they all affect your property’s price

You might think that Indian takeaway next door is manna from heaven and the airport down the road is so convenient. But in actual fact they are reducing the value of your property by as much as 15%.

A survey by property website Hometrack reveals exactly how much your surroundings can increase and decrease the value of your home.

The plus side

Somewhat surprisingly, good road links don’t come out on top of the amenities that add value to your home. In fact, a main line railway line is more of a boon and can add up to 11%, or £14,872 based on Hometrack’s current average property price of £135,200.

Links to a motorway or a dual carriageway do come in second, worth an extra 10% or £13,250, with a top state school adding 8% or £10,816. Other plus points include green spaces, places to eat, drink and socialise. Again somewhat surprisingly a good NHS hospital comes in near the bottom of the list, suggesting many of us are now happy to go private, and only adds 2% or £4,056 to the price.

Here are the things likely to add value to your home and how much they will add:

Main line railway line +11% +£14,872
Quality foodstore +4% +£5,408

Motorway/dual carriageway links +10% +£13,520
Good NHS hospital +2% +£4,056

Top state school +8% +£10,816
Sports club/exercise facilities +2% £4,056

Green space (countryside/park) +6% +£8,112
Cinema/entertainment +1% £1,352

Restaurants/pubs/nightlife +5% +£6,760
Post office and bank +1% £1,352

The minus side

The things that affect property prices adversely aren’t too much of a surprise. Rundown or derelict properties in the area are most likely to affect your home’s price, lowering it by an average of 18% or a whopping £24,336. And while you may like that takeaway or nightclub across the road, it could cost you £20,280 in lost value.

Other things that will reduce the value of your home quite substantially include being under an airport flightpath, surrounded by derelict land and near a waste station. Unsurprisingly being on a busy road isn’t an ideal scenario either.

Here are the things likely to reduce the value of your home and how much they will cost you:

Rundown/derelict housing -18% -£24,336
Local authority housing -10% -£13,520

Airport flightpath -15% -£20,280
Poorly rated local schools -10% -£13,520

Late-night drinking/music venue -15% -£20,280
Electricity pylons -9% -£12,168

Smelly takeaways -15% -£20,280
Prison -8% -£10,816

Waste/refuse station -15% -£20,280
Railway line -6% -£8,112

Busy road -12% -£16,224
Mobile phone/telecoms masts -3% -£4,056

Are there exceptions to the rule?

Of course these findings represent a broad view of the things likely to increase and decrease property prices. In bigger cities, London for example, being on a flighpath and having a tube line at the bottom of your garden are not such big concerns as they're an accepted part of the local environment.

Having said that, from personal experience the novelty of hearing the first Piccadilly Line tube en route to Cockfosters at 5 in the morning can wear off quite rapidly.

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