Living in a national park ‘can potentially boost house prices by 20%’
16 November 2020, 15:44
Properties within a national park are likely to attract a substantial premium over an otherwise identical home, Nationwide Building Society said.
Homes in national parks typically command a 20% premium, according to analysis.
Nationwide Building Society found that properties located within a national park attract a 20% premium on average over an otherwise identical home.
This is around £45,000 in cash terms, based on the current average UK house price.
Even living near a national park can boost house prices, the research suggests.
Nationwide found that living within a 5km radius equates to a 6% typical premium, or £13,000 on average in cash terms.
The Government has recently said that more of England’s stunning landscapes will become protected areas.
Andrew Harvey, senior economist at Nationwide, said: “Those living in the parks can make the most of the great outdoors with a range of activities on their doorstep.
“Development is also controlled, with limited new housing construction, which also helps to explain why prices tend to be relatively high.”
He added: “Moreover, the premium is not limited entirely to properties located within the boundaries of the national park.
“There is also evidence of a ‘fringe benefit’ for properties located close by. Properties within 5km of a national park command a 6% premium compared with those outside of this range.”
These are the average house price premiums for various national parks, as analysed by Nationwide:
– New Forest, £95,000
– South Downs, £74,000
– Peak District, £56,000
– Dartmoor, £48,000
– Lake District, £47,000
– Brecon Beacons, £44,000
– Pembrokeshire, £39,000
– Snowdonia, £31,000
