“Cluttons’ research shows that properties with gardens in prime Central London don’t always command a premium, it can depend more on the needs of the different purchasers. For international buyers in Knightsbridge, where the ability to lock up and leave a property is paramount, internal space is considered superior to outside space and properties with a higher internal square footage can command a price premium in the region of 15%. However, in Kensington, for many of the European buyers with families, the desire for outside space is greater and properties with a garden can achieve even more than those without in most cases, close to £440,000 on the average price of a property (£2.98m) in the area.
“In Mayfair, where many properties are used as a second London townhouse or working-week property, gardens are much less sought after, and there is little difference in price between those with outside space and those without it. This may also be related to Mayfair’s close proximity to London’s prestigious Hyde Park and Green Park, where outside space is freely available.”