Healthcare central to property aspirations

Local healthcare facilities can be a deciding factor in selecting a property for buyers in the UK housing market, according to new research.

With the National Health Service now well into its 60th year, some 39 per cent of estate agents expect a new hospital opening in an area to raise local house prices.

Furthermore, 74 per cent of agents however believed that a closure of a hospital in an area would have a considerable negative effect on property prices and popularity in their area, while 22 per cent believed it would have no major effect.

"While property buyers always examine, for example, how the local schools perform when they are looking into an area, this research indicates that good medical facilities also have a significant impact on perceptions and prices," said Michael O’Flynn, content editor for FindaProperty.com.

"People take comfort from knowing that there are good medical facilities on the doorstep, so perhaps it’s time that hospitals were added to the traditional list of key selling points - schools, transport links, and green areas."

Nationwide, buyers held a belief in the positive effect of a new medical facility opening nearby, with 77 per cent believing a new hospital near them would increase the price of homes in their area.

A similar number, 76 per cent, believed it would also make the area more desirable to potential buyers.

However, opinion was roughly split 50-50 as to whether a hospital closure would either make the area less attractive to buyers or make no difference at all.

Finally, when asked whether they would move to be close to a good hospital, 38% of buyers said they would, with over 71 per cent of those who said yes noting that they would move in order to take comfort from the fact that they or their family is close to a good hospital.

Chris O'Toole