A great view can be the icing on the cake when it comes to owning a property. As well as providing aesthetic appeal, it can significantly add to a property’s value. Homebuyers and investors alike are often willing to pay a premium for a property with a view, whether it’s a sea view, mountain or woodland outlook, but such houses are few and far between and can command a hefty price tag.
In this article, we delve into the value a good view adds to a property and explore the most sought-after views. Finally, we showcase four properties with a view that are currently for sale.
A good view offers year round appeal
As well as being visually appealing, a stunning view can translate into a higher property value. A good view can create an emotional connection with potential buyers, making the property more desirable and increasing its marketability. The advantage of a view can set it apart from the competition, giving it a competitive advantage and in turn, a premium price tag.
Factors influencing a view’s value
Several factors contribute to the value of a view. The first is the location of the property. Coastal properties, hillside homes, and those overlooking bodies of water like lakes or rivers are often in high demand due to their natural beauty and tranquility. Additionally, the scarcity of properties with unobstructed views can significantly increase their value. A limited supply of such properties further drives up their desirability and worth.
Most sought-after views
While preferences vary among buyers, certain views are universally sought-after. Here are some of the most popular types of views:
The pleasure of gazing out at a stretch of water with the sound of waves crashing is unbeatable for many of us. Add to this the appeal of family holidays on the beach and the charm of buying fresh fish from a nearby harbour and it’s easy to see why properties with sea views are highly coveted and can command a premium in coastal areas.
Spectacular cityscape views offer a dynamic panorama of towering skyscrapers, city lights, and vibrant urban living. Such views appeal to those who want the excitement and energy of city living.
The natural beauty of a mountain view creates a sense of peace and serenity. The sight of rolling hills, snow-capped peaks, or a valley view can create an idyllic setting all year round and add to a property’s value.
Park or green space
A view of parks, gardens, or lush green landscapes provides a refreshing escape from the urban jungle. Such vistas offer a sense of tranquility and provide a connection to nature, making them highly desirable.
The impact on property pricing
The added value of a good view can vary depending on the property’s location, market conditions and the level of demand. Appraisers and property professionals often assess the impact of a view on property pricing by conducting market analysis and considering recent sales of similar properties with and without views. It’s important to note that the actual monetary value added by a view can vary, but it typically translates into a higher return on investment (ROI) compared to properties lacking such a feature.
According to research by Knight Frank, a UK home by the water was worth up to 48% more on average than an equivalent house not by the water in the second quarter of 2023. The limited supply and number of cash-rich buyers mean that this market is resilient, despite the bank rate increase. Their research noted that 54% of UK waterfront property buyers purchased in cash in the last five years compared to an average of 29% of buyers in the overall UK property market. The pandemic has made the dream of living by water more desirable due to the sense of well-being it offers, and the lifestyle changes offered by working from home.
Knight Frank finds that lakeside property commands the biggest premium, an uplift of 71% in the second quarter of 2023; coastal property comes in second place with an average premium of 66% compared to non-coastal houses while estuary properties are in third place, with an average premium of 64%.
What price a dream view?
A new poll for digital estate agent Purplebricks found that four in five people (82%) would be prepared to splash out an average of more than £70k extra for a property that provides their perfect view. For some, money is no object when it comes to a view, with more than one in 10 (11%) saying they would pay upwards of £200,000 for their dream view according to the study.
The research, released in July 2023, found that the exact average was in fact £72,961.60. Men were willing to pay almost an additional £5,000 (£75,636.60) compared to women (£70,711.90) for their dream view. And there was an even bigger split between those in different parts of the country. Northerners would spend £66,532.40 on a view, while Southerners would pay £83,030.80 – almost 25% more. People in Birmingham were some of the biggest spenders: they said they would spend an average of more than £89,000 for their dream view.
However, not everyone was willing to break the bank for their perfect view, with 15% of respondents saying they would pay an average of up to £4,999 for it and nearly one in five (18%) claiming they wouldn’t spend anything extra because of a view.
The top choice for Brits’ dream view is the sea (27%), followed by fields (17%), and 15% don’t just want a view of the sea but the beach too.
Top seven dream views from a property
|5.||View over a town or city||8%|
The chief sales officer at Purplebricks noted:
The price of a home isn’t just about the bricks and mortar, but what you can see when you look out of the window. It goes to show just how special the tranquillity of fields is, or the ability to enjoy the crashing of the waves in the sea from your back garden. A perfect view is such a personal thing, only an individual can dictate how much it is worth to them – and in some cases, it seems to be worth a lot.
Four properties with a view for sale
Crooklets, Bude, Cornwall
With spectacular sea views and a south-facing balcony, this two-bedroom maisonette is priced at £385,000 with Kivells estate agents. It’s just over 100m from the popular surfing destination of Crooklets Beach, close to other holiday cottages. All the main rooms have sea views, it’s close to many stunning beaches and a stone’s throw from the town of Bude itself.
Rose Cottage, Beach Road, Babbacombe, Devon
This early grade II listed, Victorian thatched cottage enjoys panoramic views across Lyme Bay to Portland Bill. It is south-facing and has five bedrooms with exposed ceiling timbers, three bathrooms, and three reception rooms. Original features include fireplaces and a Victorian tiled floor. This pretty house stands in large gardens which make the perfect place to enjoy sea views over the harbour. It’s for sale with Knight Frank and is priced at offers in excess of £1m.
Pednolver Terrace, St Ives, Cornwall
Great views across St Ives bay can be enjoyed from this five-bedroom, mid-terrace Victorian villa that’s close to Porthminster Beach and all the amenities of St Ives which is buzzing in the summer months. It has original features combined with the convenience of modern living, including four bathrooms. There’s also a split-level garden and a rear courtyard. It’s for sale with Savills with a guide price of £950,000.
Jetrigg, Kinross, Kinross-shire
Stunning views of Loch Leven can be enjoyed from this four-bedroom traditional detached cottage with three bathrooms. Set in beautiful gardens plus five acres, there’s scope for equestrian use or a smallholding depending on planning permission: it has been run as a successful B&B. Jetrigg is a few minutes from Kinross town centre and offers over £620,000 are being invited.
Investing in a property with a good view can be a wise decision, both for homeowners and property investors. A sought-after view not only enhances the visual appeal and enjoyment of the property year round, but also adds significant value in the market. Whether it’s a sea view, city skyline, mountains or green spaces, a view can make a property stand out from the competition, leading to increased demand and potentially higher returns on investment. So, if you have the opportunity to own a property with a stunning view, it’s a choice that can pay dividends in the long run.