£66,000 average house price premium ‘to buy home in National Park’
Homes within 5km of a National Park command a price premium of £18,700 on average, Nationwide Building Society said.
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Your support makes all the difference.Properties located within Britain’s National Parks command a 25% (£66,000) premium on average compared with similar homes elsewhere, according to analysis.
Nationwide Building Society, which made the calculations, said there is also a “fringe benefit” for properties located close to National Parks.
Homes within 5km of a National Park command a 7% (£18,700) average premium compared with those outside of this range, the society said.
It made the calculations based on the average UK house price of £266,640.
Andrew Harvey, Nationwide’s senior economist, said: “National Parks continue to be highly desirable areas to live in thanks to the beautiful countryside.
“Those living in such areas are ideally placed to make the most of the great outdoors and take advantage of a range of activities and amenities.
“Development is also controlled with limited new housing construction, which also helps to explain why house prices tend to be relatively high.
“Our analysis suggests that a property located within a National Park attracts a 25% premium over a similar property elsewhere.”
Mr Harvey added: “We’ve also looked at Areas of Outstanding Natural Beauty, also known as National Landscapes, in England and Wales, which include places such as the Cotswolds, Chilterns and Surrey Hills.
“Our research found that properties in these areas attract a 15% (£40,000) price premium (over an otherwise identical property).
“These areas include some highly desirable locations and the premium is likely to reflect the continued attractiveness of rural areas and the associated lifestyle.”
Here are average house prices in a selection of National Parks, according to Nationwide Building Society (the breakdown focused on the national parks with the largest resident populations or those with more housing transactions):
New Forest, £576,000
South Downs, £400,000
Peak District, £375,000
Yorkshire Dales, £353,000
Lake District, £333,000
Dartmoor, £310,000
Bannau Brycheiniog/Brecon Beacons, £274,000
Eryri/Snowdonia, £173,000
Cairngorms, £260,000
Here are average house prices in some Areas of Outstanding Natural Beauty, according to Nationwide:
Surrey Hills, £610,000
Chilterns, £570,000
North Wessex Downs, £415,000
Cotswolds, £401,000
High Weald, £390,000
Kent Downs, £365,000
Dorset, £323,000