Next door’s eye sore kills property prices
Of those estate agents surveyed, 98% believe that that an unsightly or poorly maintained neighbouring property has a negative impact on the price buyers will pay for a home.
Martin Scott, head of Churchill home insurance, said: “Whilst many householders will recognise that the condition of surrounding properties can influence curb appeal the study shows that the upkeep of a neighbouring property could affect the sale price of a home by thousands of pounds.
“Relatively minor issues such as maintaining gardens and keeping external paintwork in good condition could increase property values in the area generally putting pounds in homeowners’ pockets when they come to sell.”
The five top eyesores that estate agents believe affect the value of a neighbouring property are: broken or boarded up windows, rubbish or junk in the front garden or drive, overflowing gutters, unsightly or imposing extensions and DIY and run down vehicles in the front drive.