How airport links boost house prices outside London
Airborne: house prices in and around the same postcode as Manchester Airport attract a premium of up to 73% on average house prices. This is helped in no small part by excellent private and public transport links. Image by Andrew Barker (via Shutterstock).
In spite of noise and air pollution, it is surprising to note that house prices around airports can be higher than average for their area. In a survey conducted by OwnerSellers.com, it stated how airport links can add value to its immediate surroundings. This trend affected areas away from London’s airports, and houses that shared the same postcode as the airport.
The highest premium over average house prices was 73%. This figure applied to properties in the M90 postcode, covering Manchester Airport. Ringway has won plaudits for its accessibility by road, rail, bus, and tram. With the M90 postcode encompassing the Airport City development, this could be a hotspot for commercial properties.
Next on the list is Birmingham International with 43%. Its proximity with the National Exhibition Centre and inter-city rail links makes the West Midlands’ gateway to the world a real winner. Not least the M42 motorway which is on its doorstep. The B26 postcode takes in the suburbs of Sheldon, Lyndon Green and Gilbertstone. It is also close to the Land Rover plant on the outskirts of Solihull.
Third on the survey is the postcode that covers East Midlands Airport. The DE74 postcode takes in Castle Donington and Kegworth. Both small towns are close to the aforementioned airport and the M1 motorway. For petrolheads, a desirable postcode for Donington Park race track, home to the British Motorcycle Grand Prix. House prices within the DE74 postcode are 25% higher than average.
BS48, the postcode that covers our nearest airport [Bristol] has house prices 13% higher than average figures. This postcode also covers Nailsea. Not bad, considering the lack of nearby railway stations and the lack of a substantial bus station.
Also surveyed were Leeds/Bradford (18%), Edinburgh (8%), London Luton (7%), Newcastle-upon-Tyne (5%), and Liverpool John Lennon (2%).
Connections with York as well as New York
With Manchester and Birmingham airports, connections with both sides of the Atlantic Ocean are advantageous to their success. If you live in Hale Barns or Heald Green, driving to Ringway is preferable to taking the M56 and Princess Parkway into Manchester city centre. One can go to York via Transpennine Express’ services from the airport’s bus/rail/tram interchange. With Birmingham International, likewise for travelling to London Euston.
In spite of the noise issues, a well-connected international airport is good for domestic commuting. The fact it is just as easy to travel to New York as well as Solihull from Sheldon is a good selling point. Therefore, the fringe benefits of improved bus, rail, road, and tram access to the airport are some improvements to local services.