Wed, 26 Jul 06
Owning a property in one of Britain’s National Parks could add 70% to the value of your property, a new study shows. Of course, it may add 70% to the price you pay for a property, causing major problems for local first-time buyers.
The research from haart estate agents also shows that owning a property in these highly desirable and protected areas comes with an even higher premium in the South of England than in the North.
However, the growing demand for properties in National Parks, for both second homes and holiday buy to let purchasers has resulted in many locals being priced out of the market: a fact not going unnoticed during this week which is National Parks Week.
Haart estate agents reveals that average property prices in some of the popular towns in UK’s National Parks are 40% higher than their surrounding areas. However, the greatest average property price is in the South of England in Dulverton on Exmoor, with a 76% difference compared to the regional average.
The towns in two of the other South of England National Parks, the New Forest and Dartmoor, show the second and third highest price difference respectively, with Lyndhurst’s average price at £352,800 (64% increase on the regional average) and Bovey Tracey’s at £257,000 (58% increase on the regional average).
Average property prices in the UK National Parks
Average property price
Regional average property price
North York Moors
Source: Hometrack / Land Registry data
In order to protect local residents from the inflated prices, the Affordable Rural Housing Commission had also called for further restrictions on the right to buy in protected areas and a new tax on second homes.
Russell Jervis, managing director of haart commented: "It is widely known that property prices in an area of outstanding natural beauty are inflated but this research reveals the extent the desirability of living in any of the twelve National Parks in England and Wales has on the housing economy, which interestingly conforms to the North-South property divide."
"People in the South have to pay a higher price for beauty as the demand is much higher and there is relatively much less protected land."
"With the inflated house prices, the parks face the worry of lack of affordable housing as growing numbers of second home owners push up prices beyond the reach of the locals."
"National Parks have a careful balancing act to perform to ensure that development is sustainable, meeting the needs of the present and protecting the needs of the future. National Parks Week is a great opportunity to raise awareness of these housing issues."
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