Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.
Buyers Pay Significant Premium for National Park Properties
Homebuyers are paying a 24% premium for properties located within Britain’s National Parks, according to research by Nationwide. The analysis found that homes in these areas sell for around £66,500 more than the current average UK house price of £278,784.
The research also identified a 6% ‘fringe benefit’ premium for properties situated within 5km of a National Park. National Parks are described as highly desirable places to live, with limited new housing construction contributing to higher prices.
The New Forest was named as the most expensive National Park for property, with an average price of £563,000. The South Downs and the Peak District followed, with average prices of £485,000 and £450,000 respectively.
Nationwide’s research further revealed a 14% premium for properties located in National Landscapes, also known as Areas of Outstanding Natural Beauty (AONBs). The Surrey Hills led this category with an average property price of £710,000, followed by the Chilterns at £685,000.
These findings highlight the ongoing demand for homes in scenic and protected areas, which is relevant for letting agents and inventory clerks monitoring market trends and property values in these regions.
Source: The Negotiator