How much does it cost to live in a National Park or Area of Outstanding Natural Beauty?
Living in an area celebrated for its landscape and nature comes at a price. Knight Frank reveals the premiums you can expect to pay.
2 minutes to read
Since lockdown the pursuit of more outdoor space has been one driving force behind the recovery of the property market and you won’t find a better example of room with a view than a National Park or an Area of Outstanding Natural Beauty (AONB).
However, with offers accepted outside of London at their highest level in 20 years in July, it’s not surprising that living within the boundary of a National Park or AONB comes at a price.
In fact, the price of a detached property located within one of England and Wales’s 13 National Parks is on average 29.3% (22.6% in 2019) higher than a detached property located within 5km of its boundary, an analysis of sales data shows. The average premium within an AONB in England and Wales is 32.3% (29.2%).
The data relates to the twelve months to June 2020 so any premiums won’t yet reflect the heightened demand for outdoor space since the Covid-19 pandemic.
“The pandemic has seen people revaluate their lifestyles, with a surge in interest in both space and greenery,” said Chris Druce, senior research analyst. “Living in a national park or AONB ties into this trend and is reflected in the premiums buyers can expect to pay.”
“Following the government’s commitment to increase the amount of protected land in the UK as part of a wider UN initiative, we would expect upwards price pressure to remain for such properties.”
The wider adoption of home working due to the Covid-19 pandemic has led to prospective buyers looking beyond London and other major cities, extending their search areas and considering locations that were previously considered too far outside the commuter belt, which has benefitted property markets in more remote areas.
The AONB of Chichester Harbour Conservancy, which straddles Hampshire and West Sussex and contains villages such as Dell Quay and Bosham, has a premium of 99.1%. Gower, which was the first region to be designated an AONB in England and Wales in 1956, commands the second largest premium at 69.8%.
The Mendip Hills south of Bristol (56.7%) attracts the third highest premium with Yorkshire’s Howardian Hills fourth (50.6%).
The largest premium within a National Park can be found in the Lake District (56.6%), followed by the new Forest (52.3%). The South Downs, on England’s South-east coast, has the third largest premium (47.5%).
