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Homes in national parks command 21% premium

Paula John
Written By:
Paula John
Posted:
Updated:
09/01/2015

House hunters purchasing homes within the boundaries of a national park have to pay a premium of £39,000 on an average home worth £188,810 – 21% more than an otherwise identical property.

The research by Nationwide showed the premium for national park homes had risen from 18% year-on-year in quarter three.

The premium is not just limited entirely to properties inside national parks. The research found evidence of a ‘fringe benefit’ for properties located just outside the parameters.

Properties within three miles of a national park command an 8% premium to those outside, unchanged from last year.

Robert Gardner, Nationwide’s chief economist, said:”National Parks are highly desirable areas in which to live thanks to the beautiful countryside.

“Development is also strictly controlled, with very little in the way of new housing construction, which also helps to explain why prices are relatively high.”

South Downs overtook the New Forest as most expensive national park to buy property within. The average home within the South Downs is worth £351,000 after its premium boost of £73,700.

As England’s newest national park spanning 1,624km across Hampshire and Sussex it contains the highest number of households, around 47,000. It includes a number of towns situated in the western Weald, including Petersfield, Liss, Midhurst and Petworth.

The Peak District serves the highest number of people with around 5.9m living within 25km of its boundary. Its central location makes it accessible from major population centres such as Derby, Sheffield and Manchester. It is also a desirable place to live and average prices within the park have increased by 11% over the past year to an average of £237,000 – a premium of £49,800.

National parks cover 20% of the land area in Wales, the highest proportion of the home nations. The largest of these is Snowdonia, covering 2,176km.

Properties in the Snowdonia national park an priced around £138,000 on average commanding a premium of £29,000.

“Snowdonia remains the least expensive national park to live within, although it did see the strongest growth over the last year,” said Gardner.


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