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Would you pay an extra £116,500 to buy a home in a national park?
That’s a 46% price premium, but is it worth it?
Many people dream of buying a home in the countryside and the UK’s national parks boast some of our most popular beauty spots.
But properties within the parks come with a hefty price tag – on average 46% more expensive than the surrounding county, according to Lloyds Bank.
This works out an average property price premium of £116,500 for those who buy a property in a national park.
Parks with premiums
The UK’s most visited national park, the Lake District, commands the greatest price premium.
Average prices there are more than double (105% or £186,351) those in the surrounding area.
New Forest (86% or £268,856) and the Peak District (84% or £151,969) have the second and third highest premiums.
But there is one national park that is actually more affordable than the surrounding area – Snowdonia.
Prices in the Welsh national park are 3% below the average for the local area (or £4,936), with an average house price of £180,126. This makes it the most affordable national park in the UK to buy a home.
At the other end of the scale, the New Forest is the most expensive national park, with an average price tag of £581,448.
Andrew Mason, mortgage products director at Lloyds Bank, said: “Buying a home in one of the most beautiful spots in the country usually comes with a substantial price tag.
“New development is also very limited in these areas which can also be a contributing factor.
“With the difference between local earnings and property prices being so large, it can make it very challenging for those living and working in national parks to buy their own home.”
