Green spaces – what do they mean for the East London property market?
Something that makes the East End one the best places to live in London is all the green space. Incredibly, research by Greenspace Information for Greater London (GiGL) shows that 47% of the capital is made up of parks and other green open spaces. Many of these parks are in East London and provide beautiful spaces for the whole community. Hackney is the fourth greenest borough with 26% green space.
Why are green spaces important for the London property market?
Nearly everyone would choose to live near green space if they could, which is why green spaces are good news for the East London property market. Properties for sale near parks command roughly £1000 more than those that aren’t. It’s no accident that the new developments Dollar Bay and 10 Park Drive on the Isle of Dogs are set in landscaped parkland.
I love to exercise in the green spaces near where I live – you can see my video of the Olympic National Park here. I’m not the only one – the trees and plants in our parks filter out pollutants from the air, so every lungful we take in as we run is cleaner than if we were pounding the pavements. The Natural Capital Account Report commissioned by the National Trust, Mayor Sadiq Kahn and the Heritage Lottery Fund found that London’s green spaces provide health benefits valued at an amazing £950 million every year.
Even if you don’t own trainers (!) green spaces encourage us all to get outside, which is great for our vitamin D levels and general wellbeing. Daily walks in the sunshine are known to lift the spirits, and are recommended as a way of managing mild depression. Nearly all of us would benefit from spending lunchtime under a tree with a book and a sandwich rather than eating at our desks. Take your kids, take a ball, take a rug – just hang out in the sunshine. Amazing.
Things to do in East London parks
East London has many parks, providing acres of space for local people to enjoy. The oldest, Victoria Park, has hosted a variety of music events and festivals over the years, and in 2018 will present All Points East, a brand new ten day festival.
Mile End Park is made up of a number of elements, including the children’s Play Arena, Kirk’s Place, The Ecology Park – including a lake, an ecology building, wind turbine and climbing wall, The Arts Park, The Green Bridge, The Terraced Garden, The South Park, Adventure Park and the Sports Park which includes Mile End stadium.
Hackney’s London Fields is one of the East End’s most popular parks. Home to the London Fields Lido, it also has plenty of places to exercise outdoors, including a cricket pitch and outdoor gym. It’s also a beautiful space to laze about in, with its wildflower meadow and iconic London plane trees.
Buy, sell and rent property in East London
The parks and open spaces of East London are just part of why people love to live here. If you have property to sell in East London, we’re here to help – just give us a call on 020 3633 4440 for your free valuation.
PS – here’s my video of my run in the Olympic National Park…