The latest research by estate agent, Barrows and Forrester, has found that a Covid-19 testing site could be the latest property feature to help boost home seller sold prices.
Barrows and Forrester analysed current house price data across postcodes that are currently home to a Covid testing station to see how they stacked up against property values in the wider market.
The research shows that across the 163 postcodes currently home to a testing site, the average house price sits at £243,588. This is 2% higher than the UK average but also 7% higher when comparing the average house price in these postcodes to the wider local authorities they are located within.
In some areas, this difference is even greater and Birmingham is home to the third-highest Covid testing site property price premium in the UK. The Sutton Coldfield testing site in the B72 postcode is home to an average house price of £392,200, 106% higher than the wider average house price in Birmingham.
The biggest property price gap is in Fife where the KY16 postcode is home to a Covid testing site and an average house price of £328,880, 137% higher than the current average across Fife as a whole.
Doncaster’s DN9 postcode is also home to a Covid testing site and an average house price some 123% higher than Doncaster as a whole.
Managing Director of Barrows and Forrester, James Forrester, commented:
“Despite news of a potential vaccine, we could still be facing many months of life with Covid precautions in place.
As we attempt to return to normality, the ease of getting the all-clear could be a big factor for many looking to travel, work or see loved ones, so living close to a Covid testing site could well become a sought after feature for homebuyers in the short to mid-term.
I’m not sure if the close proximity of a Covid testing site would spur me to pay more for a property personally, given the potential higher footfall of those that could have the virus. However, the research shows that if you did want to buy near a testing site, it’s going to cost you a fair bit more than a property elsewhere in a given area.”
|Category||Average House Price||Difference to Covid Testing Site|
|Covid testing sites (outcode)||£243,588||N/A|
|Wider area (local authority)||£228,104||7%|
|Table shows the top 20 biggest price differences between postcodes with a Covid testing site and the wider local authority|
|Covid testing site||Postcode||Local Authority||Postcode Average House Price||Local Authortiy Average House Price||Difference (£)||Difference (%)|
|Fife – St Andrews Victory Memorial Hall||KY16||Fife||£328,880||£138,601||£190,279||137%|
|Doncaster – Doncaster Airport||DN9||Doncaster||£299,679||£134,314||£165,365||123%|
|Sutton Coldfield – South Parade car park||B72||Birmingham||£392,200||£189,988||£202,212||106%|
|Stafford – Education and Enterprise Park||ST18||Staffordshire||£381,990||£201,295||£180,695||90%|
|Taunton – Taunton Racecourse||TA3||Somerset||£444,231||£241,173||£203,058||84%|
|Bristol – Bristol Airport||BS48||North Somerset||£469,293||£270,993||£198,300||73%|
|Wirral – Bebington Civic Centre car park||CH63||Wirral||£273,328||£159,424||£113,904||71%|
|Carmarthen – Carmarthen Showground||SA33||Carmarthenshire||£252,710||£152,706||£100,004||65%|
|Bristol – Victoria Rooms car park||BS8||Bristol||£492,239||£298,531||£193,708||65%|
|Wolverhampton – Whitmore Reans Health Centre car park||WV6||Wolverhampton||£248,292||£161,216||£87,076||54%|
|Norwich – Postwick Park and Ride||NR13||Norfolk||£343,125||£233,533||£109,592||47%|
|Leicester – Overton Road Ballpark||LE5||Leicester||£274,334||£187,604||£86,730||46%|
|Birmingham – South Gate car park||B15||Birmingham||£277,574||£189,988||£87,586||46%|
|Carlisle – Carlisle Airport||CA6||Carlisle||£202,536||£138,896||£63,640||46%|
|Aberdeen – Aberdeen Airport||AB21||Aberdeen||£203,254||£141,403||£61,851||44%|
|Middleton, Rochdale – Market Place car park||M24||Rochdale||£213,342||£148,977||£64,365||43%|
|Greenwich – O2 TfL car park||SE10||Greenwich||£563,454||£394,809||£168,645||43%|
|Newcastle – Newcastle Great Park and Ride||NE13||Newcastle||£237,725||£167,079||£70,646||42%|
|Leicester – Highfield Centre||LE2||Leicester||£265,071||£187,604||£77,467||41%|
|Wigston, Leicester – Bushloe House||LE18||Leicester||£261,338||£187,604||£73,734||39%|