You're on to a winner with a property near a horse racing course #CarryGobySeanKellz #FutureGroupNG via @i_amreginaldjr

AN EXPLORATION on how homes near race courses like Goodwood are galloping ahead in the price stakes

Andrew and Allyson Bettridge are selling Hunters Lodge to release capital for a new project[CHRIS BALCOMBE]

As the jumps season draws to a close after the Grand National and racegoers look forward to the thrills of the flat season, owners of properties near racecourses will be pleased to know they have already backed a winner.
Homes close to race courses in England typically command an average 18.5 per cent premium according to new research, with national hunt courses coming slightly ahead of flat racing courses.
The research by estate agent Chesterton Humberts, using postcode area data from Zoopla, compared the effects of 34 racing venues including Ascot, Goodwood, Cheltenham, Epsom and Bath on housing markets over the past five years.
Despite evidence that a North-South divide remains in force, the analysis showed that homeowners close to courses anywhere in the country benefited from substantial premiums.
Properties within the 18 national hunt course areas analysed typically command a 21 per cent premium, while the 16 flat-racing areas attract a 16 per cent premium. Overall, however, average house prices in flat race course districts are higher: £271,000 compared to £254,268.
The most significant uplift was, surprisingly, in West Yorkshire where average house prices in the same postal area as Wetherby’s course are more than double the county average.
Homes close to Bath race course, postcode BA1, were a length behind with prices 72.8 per cent higher than the Somerset average. Goodwood, where values in the PO18 district are 57.5 per cent more expensive than West Sussex as a whole, was placed third.
The analysis covered a wide range of examples and in every case homes in the same postcode area as a racecourse were significantly more valuable than the average for the area: at Windsor, postcode SL4, the premium was 46.6 per cent, at Nottingham, postcode NG2, it was 40.6 per cent, at Stratford Upon Avon, postcode CV37, it was 36 per cent.
When it came to the top three by average prices, all were in South-east England and within commuting distance of London. Goodwood took first place with mean property values of more than £475,000, followed by Windsor, at £461,344 and Epsom, home of the Derby, at £460,928.
“In recent years horse racing has become increasingly popular and events such as Glorious Goodwood and the Cheltenham Festival are key dates on the social calendar for hundreds of thousands of people across the country,” said Nick Barnes, Head of Research at Chesterton Humberts.
“The disruption caused by big racing events seems to be worth the hassle. The staging of big events pumps money into local economies and house prices close to race courses throughout the country are benefiting from this.”
Andrew and Allyson Bettridge run a B&B in Chichester, near Goodwood, and certainly benefit from the proximity to the course, particularly in July and August. Andrew, who is managing director of his family building firm, says that they often host trainers and owners during the racing season, charging up to £150 a night for a double room.
“We were once invited by an owner to his box and had a chance to stand in the paddock, which was nice. The week of Glorious Goodwood is very popular and it is a lovely course up on the hill.”

Allyson and Andrew inside Hunters Lodge in Lavant, West Sussex [CHRIS BALCOMBE]

Buyers who love equestrian life will pay a premium to be close to racing events at Goodwood, particularly if they can use the home as a B & B to generate extra income yet enjoy the wonderful lifestyle Sussex has to offer

Richard Donaldson

The Bettridges are moving because his company has just obtained planning permission to develop a site in the city of Chichester and they need to release capital for the project.
Hunters Lodge, in Mid Lavant, where they live with their two children, who are 21 and 17, is for sale at £799,000. The Grade II-listed house, which has six en-suite bedrooms, is typical of the West Sussex vernacular with brick and flint elevations as well as a rendered facade under a tiled roof. It may once have formed part of the Goodwood Estate and was also previously a pub.
In 2007 the Bettridges began a major renovation and refurbishment programme to create a contemporary home that retains its period character, including the beams and fireplaces. The layout is ideal for guests, with separate accommodation from the family’s living quarters where the kitchen is the hub of the house with its all important Aga.
Outside is a partly walled rear garden with circular decking.
“We bought the house in 2007 and are now just inside the South Downs National Park which was declared in 2011 and was a big bonus for us,” says Andrew.
The property is ideal for anyone who loves racing, according to Richard Donaldson of Chesterton Humbert’s Chichester office.
“Properties in this postcode tend to attract a lot of interest and sell above guide price,” he says.
“Buyers who love equestrian life will pay a premium to be close to racing events at Goodwood, particularly if they can use the home as a B & B to generate extra income yet enjoy the wonderful lifestyle Sussex has to offer.”