Perfect neighbours 'can boost' property values

30 January 2006
Property prices may be significantly affected by who's living next door, according to new figures.

Good neighbours can add more than four percent to house values, while nightmare neighbours such as squatters could decrease the price of a home by up to £32,395, research by website propertyfinder has revealed.

The research found that British homeowners' ideal neighbours would be childless couples, followed by old age pensioners. People living on their own and families with young children could also increase house prices, but not by as significant an amount.

Squatters would be the neighbours from hell, the survey found, while students were not far behind.

"Students are notorious for having a good time and living in messy conditions, but our results show a greater concern among householders regarding the detrimental effect students can have on the price of their property," said Nicholas Leeming, director of propertyfinder.

"Our neighbours have a very significant influence on our quality of life, especially in urban areas and increasingly, house-hunters are prepared to pay a premium for a quiet, trouble-free life."

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