Neighbouring properties ‘affect house sales’

The external appearance of neighbouring properties can have a significant effect on the chances of a house sale, new research has suggested.

A survey conducted by insurance firm Legal and General revealed that the neighbours’ upkeep of their properties has an instrumental effect on the house-buying process.

Almost nine in ten (89 per cent) respondents to the survey said they might reconsider purchasing a home in light of nearby properties’ condition.

Home buyers looking to build capital through their house might like to consider the positive aspects of buying new-build property – since more than half of young professionals say they would not buy property where neighbours had cracked or broken windows.

Ruth Wilkins, head of communications at the insurer, commented: "Our ‘Changing Face of Britain’ research suggests that people are reviewing wider issues than just the property itself when deciding that a new home is the right one for them.

"Who we may be living next door to is now a key consideration. It is interesting how much influence our neighbours can have on this key investment decision."

In other news of interest to the estate agent market, Legal and General published research this week that indicated an increased awareness of security issues among the British public, with 34 per cent stating they avoid opening their door to strangers while one-quarter have now invested in a burglar alarm.