Homes near good hospitals worth 14% more than average

Houses in England in areas close to ‘good’ hospitals can fetch 14% more than the national average property price, according to the latest study by online estate agent eMoov.

The research looked at house prices across 600 areas with a hospital ranked by the Care Quality Commission (CQC) as either outstanding, good, need improvement or inadequate and how the average house price differed across the ratings.

The research revealed that house prices in areas with a hospital CQC-rated as either good or as requiring improvement sold for 14% more than the national average.

Houses in areas with a hospital ranked as outstanding sold for 20% more than the average.

However, properties in areas with a hospital rated as inadequate sold for 17% less than the English average.

Of the 40 hospitals rated as outstanding by the CQC, the average house price in the local area was £302,281.

Russell Quirk, founder and CEO of eMoov, said: “The close proximity of a healthcare facility can not only appeal to the average homeowner in terms of peace of mind, but can also be of vital importance for those with ongoing or unique healthcare needs requiring specialist assistance on a more regular basis.

“Of course, those that can boast of an outstanding hospital in the local area may have a healthy case for that extra few thousand on their asking price, but unfortunately, if that facility does fall into the inadequate category, it can leave local homeowners in need of a sicknote due to the negative impact on their property’s value.”

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