It is statistically proven that more people want to live near a park, not only to occupy their children or for health and wellbeing but also for property value. Living near a park, less than half a mile away can boost property value, of anywhere between 8% – 20%.
Having a playspace nearby can: improve views; increase the quality of life; be an added to convenience; and, help form a local community – all of which are appealing to many new buyers.
Ensuring playspaces or parks on new developments are of high quality is incredibly important to achieve the feelings and value aforementioned. A brilliant example of high-quality play spaces is; Houlton Fields (shown above) and Barking Riverside (shown below).
“Playing outside is increasingly seen as a saleable asset … buyers are attracted to the places that are going to be nice to live in. Unfortunately, good quality examples, such as Barking Riverside, are few and far between.” – Dinah Bornat of ZCD Architects
Families might love to move into an area with a new playground, perhaps due to a lack of outdoor garden space (click here to read ‘Unequal Acess to Green Spaces’). A playspace provides an option for families to get outside together and get active. These spaces, if of high quality, can also attract visitors and tourists to the local area, once again influencing property value.
It is of increasing importance that playspaces are designed into development schemes from the beginning and blend into the surrounding, with fun and interesting ‘play-on-the-way’ routes, and not just plonked into a small free space to tick a box. The value in designing these spaces is unprecedented and more schemes such as Alconbury Weald, Houlton Fields and Barking Riverside, whereby play and community space is at the heart of the development, need to be a priority.