Mansfield one of best places in UK for properties with off-street parking

Mansfield is in a prime spot after new research revealed that off-street parking space can add up to ten per cent to the value of your property.

By Richard Silverwood
Tuesday, 24th May 2022, 2:22 pm

The research was carried out by car and van leasing company Nationwide Vehicle Contracts, who duly created an off-street parking index to show which towns and cities in the UK were best placed.

The index showed the areas boasting the most affordable housing with off-road parking – and Mansfield was positioned as high as third with a score of 87 out of 100.

Of the 168 properties for sale in the Mansfield area at the time of the survey, March this year, 57 per cent had a garage and 64 per cent had a driveway. The average price of a house with off-street parking was £268,189.

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Mansfield has been ranked the third best place in the UK for properties with a garage, a driveway or other off-street parking.

Mansfield was pipped only by Warrington in Cheshire (89 points) and Dudley in the West Midlands (88 points), but they both had fewer properties with a garage or driveway.

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Just below Mansfield in the rankings were Newcastle, Preston, Derby, Wigan and Peterborough, followed in ninth place by Nottingham, which scored 70 points on the index.

Of 1,219 Nottingham properties for sale at the time of the survey, 45 per cent had a garage and 54 per cent had a driveway. The average price of a property with off-street parking was £307,820.

Properties with a garage and driveway are said to be up to ten per cent more valuable than those without off-street parking.

The survey found that houses with off-street parking can be more expensive and more in demand. In fact, 84 per cent of home-buyers stated they wouldn’t buy a house without a driveway.

Keith Hawes, director of Nationwide Vehicle Contracts, said: “It’s great to have somewhere to park your car safely off the road. It makes your home more attractive and easier to sell.

"Buying a house can be a daunting task. Many search high and low to find the perfect home that comes with everything they desire, including a suitable place to park their vehicle.

"Given that the vast majority of cars spend most of their time stationary, off-street parking is a big desire for safety, peace of mind and insurance costs.

"Parking is an issue in many places, with council restrictions increasing, so it’s only natural for home-buyers to want off-street parking.”

To find out more about the survey, click here