How Much Is My Garden Land Worth?
The value of land without planning permissions is very small (perhaps 5-6 thousand pounds per acre). Obtaining planning permission will add hugely to its value. Recent clients have sold small areas of garden for between £20,000 and £365,000 - and much more for larger plots.
Assuming planning consent has been given, there are three main factors that determine the value of a plot.
- House prices locally. Obviously, houses in the London area are worth much more than similar sized ones in, say, Lincolnshire. This difference in the house market is mirrored in the land market.
- The number and size of dwellings that can be accommodated. This is also a matter for you, the seller. You may be prepared to have only one house on the land you are selling, even if it could accommodate two; in which case you are likely to reduce the amount you get for it.
- Access. Often a plot is ideal for housing, but there is no access to a road. In these cases it may be possible to achieve access through a neighbour's garden with their consent, but the value of your plot will be less as a result.
