Tuesday, 22 January 2019

‘Park life’ premium is biggest in New Forest

‘Park life’ premium is biggest in New Forest

HOUSE prices in UK national parks are on average £121,383 more expensive than similar properties in surrounding counties, according to new research from Lloyds Bank.

All 12 national parks surveyed have higher house prices than the average for their county.

Topping the list is the New Forest — known for its heathland, forest trails and native ponies — with a premium in excess of £300,000. This is followed by the South Downs — the newest national park and often referred to as the lungs of South East England — with a premium of more than £200,000.

The average house price in a national park is now £379,437 — meaning homebuyers face paying an extra 47 per cent compared to similar properties in surrounding counties.

This is also significantly higher than the average England and Wales house price of £286,336.

In the New Forest, the price leaps to £661,957, more than double the county average (an extra 107 per cent or £342,830).

At the other end of the scale, homes in Snowdonia — famous for its mountains and rugged landscape — cost on average £189,616, or a premium of just two per cent (£4,374).

Other findings of the research include:

• Average house price in national parks are equivalent to 11.6 times local earnings.

• The slowdown in the UK property market has seen average prices in national parks rise by just one per cent over the past year.

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