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Houses on sought after corner plots are worth £20,000 or 5% more than neighbouring properties, new research reveals.

The findings from quick-sale specialists Open Property Group put a value on the long-recognised fact that a corner location is often more attractive to buyers.

Only 5% of homes fulfil the criteria though as a corner plot, which makes them even more popular.

Premium

Homes in corner locations command an average asking price of £388,163, the research shows. Whereas houses of comparable size without the benefit of a corner plot position, are going for £367,867.

So this means that a corner plot property commands a premium of 5.5%, or £20,296.

Potential

Additional on-street parking, more outdoor space around the property, and the potential to extend, are all reasons corner plots are worth more.

In London, the current house price premium for a corner plot property is 10.4% or £83,004.

In the North East, a corner plot property also commands a healthy premium of 10.3%, but with the region home to lower house prices than the capital, this equates to just £23,212.

Commanding

The North West is home to the third highest corner plot premium at 7.2%, with properties commanding £22,006 more, while even in the East of England where this premium sits at just 3.8%, it will still bag £17,078 more than a property without a corner plot.

Those with a corner plot property could be quids in …  without having lifted a finger or paintbrush.”

Jason Harris-Cohen, CEO, Open Property Group

Jason Harris-Cohen, CEO of Open Property Group, says: “Those with a corner plot property could be quids in without even knowing it, or without having lifted a finger or paintbrush.

“It might not be something you have considered before, but if you have a corner plot property you can rest assured that it should not only attract a greater degree of attention, but it should also command a better price than your neighbours.”