November 22nd, 2021. Ben Lloyd
Study Shows Homes Near Golf Courses Typically Cost £267,551 More Than The English Average
Golf; the gentleman’s game. There are roughly 2,270 golf courses up and down the UK, each one touting their own clubs and unique course challenges, as well as varying prestige and cost
Like nearby shops, restaurants and activities, golf courses are an aspect that can contribute heavily to a house’s overall price. The idea being that the higher the quality of these amenities, the more people are willing to pay to take advantage of them. But, how much value can living near a golf course really add to your property?
To get a better understanding of its influence, we have researched house prices in locations surrounding the top 50 golf courses in England. Read on to find out which clubs are the most expensive to live by and just how much their presence impacts house prices.
Our Findings: It Costs to Live Close to a Course!
Our data shows that house prices within areas closest to a golf course have an average cost of £548,472; that is £267,551 more, or just under double the average English house price – £280,921 as of August 2021.
This data is consistent with the nearby towns and villages we selected, with the average price of houses in areas closer to golf courses costing £73,262 more than those found within surrounding locations.
The Top Three Most Expensive Golf Courses To Live By
So, which of the top 50 golf courses is the most expensive to live by? Here are the top three priciest:
By far the most expensive golf club to live near is Queenwood Golf Club, with its nearest village having an average associated house price of £948,182. Despite the course being rated as the 25th best in the UK, this number is £683,938, or over two and a half times higher than the UK average house price.
Found in Ottershaw, Surrey, Queenwood is somewhat of a well-kept secret within the golfing community. Members are first required to pay a hefty joining fee of £145,000 before they can even visit the course’s website, of which is kept behind a login screen that only members can access. This, in addition to the high pricing found within local areas, undoubtedly makes Queenwood the most expensive and exclusive golf course to live nearby.
#2: Wentworth (West)
The second most expensive golf course to live by is Wentworth Golf Club. Also located in Surrey, the average house price near this golf course comes in at £926,412, placing it firmly in second place on our list.
This comes as no surprise, as Wentworth is one of the most well-documented courses in the country. Having hosted three professional tournaments every year, and a history that stretches back as far as the mid-1920s, Wentworth is a golf course entrenched within British history that offers players unique challenges wherever they look.
#3: Berkshire (Red)
And finally, the third most expensive golf course in England is Berkshire Red. This course has an average house price in surrounding locations of £745,931, which itself is around 2.6 times higher than the English average.
Founded in 1928, the luscious green grounds that surround today’s course were once used by Queen Anne’s hunting parties. Nowadays, Berkshire Golf Course does little to stray far from its initial design, a true testament to its original architect Herbert Fowler.
The Impact Of A Nearby Golf Course
Of course, there are many reasons for how golf courses affect the price of a house. Namely being:
Nothing beats a good view. Golf courses and their wide green valleys of grass and wood can be some of the most picturesque locations on Earth. Having one close to your house provides a breath-taking view; the better the view, the more curb appeal your house has.
Golf fans will travel far and wide to see their adored competitors take part in competitions. This attracts a lot of local tourism. It is a well-documented fact that more tourism has a positive impact on house prices, with tourist locations being presented as a more desirable location for homeowners.
There’s no denying that golf is an expensive hobby. Add further travel costs to the equation and, for some, it may be more economically viable to move closer to a desired golf course. Not only are golfers then able to play more often, but their journeys also become much more manageable in the long-term.
Thinking of Investing Near a Golf Course?
So, there you have it. From this research, it’s clear to see that golf courses do have a positive impact on house prices in the UK.
If you want to discuss finance for a home or investment property purchase then the Pure team can help. We have helped thousands of property owners, investors and developers make their plans a reality.
Get in touch with us today to see how we can make your property dreams come true.
The Fine Print: Our Research Rationale
Data from the UK government shows that as of August 2021, England’s average house price sits at £280,921. This is roughly 3% higher than the previous month, and almost 10% higher than the same time the previous year.
By using data gathered from top100golfcourses.com, we were then able to determine a list of England’s highest rated courses. Out of the 100 courses available, the top 50 were selected to be included in this study.
With our list of courses in mind, we then researched the average houses prices within their closest town or village. After which, this same approach was applied to three additional locations within a five-to-eight-mile radius. This would provide us with ample data to determine the impact that golf courses have on house pricing.
Article By Ben Lloyd
November 22nd, 2021
Ben is the Director and Co-Founder of the Pure Group and Managing Director of Pure Property Finance.
Following a career in Barclays, where Ben was in the real estate finance team for 8 years, he decided that the market needed a more forward-thinking type of commercial brokerage so founded Pure Commercial Finance (now Pure Property Finance), the first company within the Pure Group.
Ben has extensive experience across the real estate sector and has participated in over £2bn of real estate transactions during the course of his career.
Ben oversees the general strategy at Pure Group and works with the senior leadership team to drive the Group forward. Ben is also on the Executive Committee of FIBA.See more articles by Ben