16/08/2018

House buyers pay 22 per cent more for homes in the South Downs

Homes within a National Park command a 22 per cent price premium, research by the Nationwide has revealed.

Homes within a National Park command a 22 per cent price premium, research by the Nationwide has revealed.

A special report by the building society found that a home inside one of the UK’s National Parks was on average £46,000 more expensive than an identical property located outside a National Park boundary.

The report also found that buyers faced paying a price premium of 5 per cent for homes within three miles of a National Park.

The two most expensive National Parks to live in are the New Forest and the South Downs, where the average house price is £525,000 and £350,000 respectively.

The price premium for properties within the New Forest is estimated to be £115,500, while the figure for the South Downs is £77,000.

However, Luke Southgate, Regional Sales Director at Bloor Homes Southern, says buyers can enjoy the benefits of living close to a National Park without paying a premium.

He said: “Many of our developments across the region are located just a few miles away from the New Forest and South Downs National Parks, and offer excellent value for money compared to properties situated within the National Park boundaries.

“Buyers can purchase a brand new four-bedroom house at our Boorley Park development in Botley, just 4 miles from the South Downs, for £455,000. By contrast, the average price for a four-bedroom property in Liss, in the heart of the National Park, is currently £604,989.

“And with the Help to Buy scheme enabling purchasers to secure a brand new home with just a 5 per cent deposit, buyers are finding they can get significantly more for their money by looking just a few miles outside of the National Park boundary.”