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New Forest rivals London for average home costs
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
An interesting report has revealed that property prices in England’s most expensive national park have nearly hit the levels recorded in the capital.
New Forest
Properties for sale in the New Forest are now the most expensive in any of the national parks within England and Wales, according to research conducted by agent Knight Frank. An average property here costs £451,241, which is only slightly less than the value of a home within London.[1]
Additionally, homes in the New Forest have the largest premium over those in the nearest county, with homes here costing 93% more than the average Hampshire property. A standard house cost within the county is £233,745.[1]
Restrictions
The building of new houses in the national parks of the UK is highly restricted. This in turn has lead lack of supply and with demand for property in rural areas showing no signs of slowing, average prices of homes in the New Forest are now just £23,000 less than those in the capital. House prices in London increased to an average of 474,544 during the last year, according to the most recent Land Registry data.[1]
Head of Knight Frank’s country practice, Rupert Sweeting, believes that more buyers are, ‘looking for the perfect house or cottage in the most idyllic surroundings.’ He says that, ‘in a national park, the chances of finding this lifestyle are considerably enhanced-these areas qualify due to the wonderful landscapes and buyers can be confident the views and surroundings are unlikely to alter in the future due to tighter planning guidelines.’[1]
New Forest rivals London for average home costs
Rankings
Knight Franks’ report ranked the top-ten most expensive national parks for property purchases. With the New Forest at the top, the Peak District in Derbyshire came next, with houses costing £274,888 on average, 87% more than the average for the rest of the county. The Lake District came in third, with buyers having to part with £269,993, more than 86% more than the average for Cumbria.[1]
The full list of the top-ten most expensive national parks in England and Wales by average property price is:
- New Forest
- Peak District
- Lake District
- South Downs
- Penbrokeshire Coast
- Yorkshire Dales
- Dartmoor
- North York Moors
- Breacon Beacons
- The Broads[6]
[1] http://www.telegraph.co.uk/finance/property/11653230/The-cost-of-buying-in-Englands-most-beautiful-spots.html
