Jo Harris, Managing Director, Lloyds Bank

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Jo Harris, Managing Director at Lloyds Bank, comments on the prices of homes near the Chelsea Flower show site.

A great garden can add value to your home, but with the Chelsea Flower Show this week, new research from Lloyds Bank looked at whether just being close to one of the nation’s finest gardens could add thousands to the value of your home.

The average price of homes neighbouring 50 of the country’s most notable gardens in 2022 is £466,912, a premium of £107,189 compared the average house price for the counties they are in. Properties in Chelsea, home of perhaps the most celebrated of the Royal Horticultural Society’s shows and London’s oldest botanical gardens – Chelsea Physic Garden, created the biggest buzz – attracting a county premium a 276% (£2,175,519).

The prices of homes in several ‘garden towns’ outgrew the UK average by significant margins over the last year. Those shooting up most were in Worsley, (RHS Bridgewater), where the cost of the average home reached £500,848, harvesting owners a £132,383 rise (36%), compared to an average rise across England and Wales of 5% (£16,465) to £348,317.

Jo Harris, Managing Director at Lloyds Bank, said: 

Chelsea, which has long been one of the most desirable suburbs of the capital, not only benefits from its association with the RHS flower show but is also home to the country’s oldest botanical gardens. Where the external space with homes is limited, having these show gardens close by provides an attractive alternative.
While homes surrounding Chelsea Physic Garden might be seen as the cream of the crop - attracting both the highest prices and the biggest county premium, the majority of those areas with the highest premiums were near gardens across the North and Midlands, like Brockhole Garden in Cumbria or RHS Bridgewater near Manchester.

Full release: Chelsea Flower Show neighbours see house prices grow a bunch

Media Contact: Jason Clarke, jason.clarke@lloydsbanking.com, 07385 389293  

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