THE average price of a property next to one of the nine golf courses which host Open Championships is 140 per cent higher than elsewhere in the local postcode, a report has revealed.
Properties which overlook Britain’s most prestigious golf courses can command an average premium of up to four times the typical cost of a local property, a report has found, as home sellers cash in on the cachet of living close to a famous course.
North of the Border, the cost of a home near the historic golf course in St Andrews – where the 2015 championships are due to start this weekend – are more than double the average property prices in the wider KY16 postcode of £308,895, at £715,886, while people wanting to live near Muirfield in East Lothian have to pay 170 per cent more than elsewhere in the local area.
The view towards the 18th green at St Andrews, taking in the world famous Swilcan Bridge, is one of Scotland’s best-recognised sites.
In Turnberry, where many course-side homes are set to be built as part of the luxury resort owned by US tycoon Donald Trump, prices are 150 per cent higher, with the typical home costing £347,386, rather than the £138,473 for an average property nearby.
At Royal Troon, in South Ayrshire, properties are around 136 per cent higher, compared to the local average of £187,598.
However, living beside the golf course at Carnoustie in Angus is more affordable, with an average price of £277,068, compared to the typical property cost of £178,731 in the DD7 postcode.
The highest premium is paid in Royal Birkdale in Lancashire, England, where buyers have to fork out 437 per cent more to get a property near the course, with a greenside home typically costing £1,013,522.
Alex Gosling, chief executive of online estate agents House-Simple.com, which compiled the data, said: “The Open Championship is part of British history. No-one will ever forget some of the great battles that have taken place on some of the most iconic courses in the world.
“But for golf fans who dream of being close to the action and living next to or overlooking one of these courses, they might actually have to win the Open to afford to buy a property just a chip and a putt away from the fairways.”
In May, a house overlooking the Old Course at St Andrews sold for more than £2.25 million within just a week of going on sale and is believed to be the highest-priced sale in Scotland so far this year.
The four-bedroom property boasts a drawing room which overlooks the Old Course, as well as views to the Firth of Tay and West Sands beach.
Meanwhile, near Muirfield, which hosted the Open Championships two years ago, a plot of land in a private gated development adjoining the 14th hole is currently on the market for £500,000.