Cornering The Market - premiums being paid for key sites

Houses on corner plots with possible potential for small-scale development are attracting a premium of around £25,000.

An estate agency has searched available listings to find the number, proportion, and house price premiums incurred when buying a home on a corner plot.

There’s often more light, more wraparound garden space, on-street parking on the front and side, as well as one less neighbour to contend with - plus, in some cases, greater development potential.

In Yorkshire 9.3 per cent of all listings in the region are corner plots, which is nearly double the average throughout England of 5.0 per cent. Other regions with a strong proportion are the East Midlands, the North East, the West Midlands and the North West.

You’ll have a harder time finding one in the South East proportionally, where they make up 4.4 per cent of listings. However due to the size of the market that still represents more than 5,000 properties to choose from, more than any other region.

Available properties on a corner plot are rare in London, as just 0.3 per cent of listings fit that category. 

The rare nature of corner plots in London is reflected by the steep premium you have to pay for one, as they cost 12.8% more than the average property in the region. That amounts to £67,108 more, bringing the price up to £525,629.

Across England as a whole, homes on a corner plot cost on average 8.0 per cent more, totalling £24,285 more with an average price of £303,557.

The head of the eXp UK agency, Adam Day, says: “If you’ve previously had a run in with a terrible neighbour or like the idea of a wraparound garden then perhaps you should look to buy a home on a corner plot. However, whether that’s an easily achievable prospect depends on where you want to make a purchase.

“Proportionally you’re 31 times more likely to find a corner plot in Yorkshire and the Humber than London, which sit at opposite ends of the spectrum in terms of availability.

“Clearly you’d also have to be mindful of the price, as they cost more throughout every region of England - but especially in London. Even if there’s a premium perhaps it’s worth it - as that extra value will likely be maintained throughout the years.”