How much does it cost to live in a National Park in the UK?
Living within the boundary of a National Park or an Area of Outstanding Natural Beauty comes at a price, and there is a clear premium for a home in areas of England and Wales celebrated for their landscapes and nature.
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Our analysis of Land Registry house price records shows that, on average, the price of a detached property situated within the borders of a National Park in England and Wales is 22.6% higher than that of a detached property located within a 5km buffer of a park. In an Area of Outstanding Natural Beauty (AONB) the premium is greater, at 29.2%.
Gower, which was the first region to be designated an AONB in Britain in 1956, commands the largest house price premium at 63.1%. The largest premium within a National Park can be found in the New Forest, at 53.6%, followed by the Lake District, at 46.1%.
Oliver Knight, Associate, Knight Frank Residential Research “In terms of location and quality of life, living in a national park or AONB ticks many boxes. This is reflected in the data, which shows that houses in these areas command a premium.
“In addition to the environment, there are two other key reasons why average home prices in these areas are higher, on average, than surrounding areas. First, tighter planning regimes within the boundaries of many National Parks and Areas of Outstanding Natural Beauty means new supply can fall short of demand. Second, housing stock in these areas tends towards older, larger homes, in some cases with additional land. Our research shows that a quarter of homes located in National Parks across England and Wales were built before 1900 – the national average for pre-1900 housing stock is 16%.
“Wider trends seen across the housing market are also evident, not least the north/south divide in terms of pricing, with National Parks and AONB located in the south of England topping the pricing charts, and often commanding higher premiums.”
The South Downs and the New Forest were the most expensive National Parks examined. Both are located in the South East where house prices are among the highest in the country outside of London. The Surrey Hills was the most expensive area to buy a detached property with an average price of £915,441. Being within easy reach of London and in close proximity to major towns such as Guildford and Epsom, this is a popular commuter location and strong demand on the back of this – especially from London – has underpinned house prices.
