Agents can get a 25% premium for a property situated within a National Park and a 7% premium for a property within 5km of a National Park, latest data from Nationwide reveals.
And those looking to sell can also command a 15% premium for a property located in an Area of Outstanding Natural Beauty (AONB).
Andrew Harvey, Nationwide’s Senior Economist, says that national Parks continue to be highly desirable areas to live in thanks to the beautiful countryside.
He adds: “Those living in such areas are ideally placed to make the most of the great outdoors and take advantage of a range of activities and amenities.
“Development is also controlled with limited new housing construction, which also helps to explain why house prices tend to be relatively high.”
25% PREMIUM
And he says: “Our analysis suggests that a property located within a National Park attracts a 25% premium over a similar property elsewhere. This is around £66,700 in cash terms based on the current UK average house price (£266,640 in Q3 2024).
“This is a similar premium to 2022, when we last carried out this research. There also continues to be evidence of a ‘fringe benefit’ for properties located close to National Parks. Those within 5km (around 3 miles) of a National Park command a 7% premium compared with those outside of this range.”
AREAS OF OUTSTANDIN NATURAL BEAUTY
He goes on to say: “We’ve also looked at Areas of Outstanding Natural Beauty (AONBs), also known as National Landscapes, in England & Wales, which include places such as the Cotswolds, Chilterns and Surrey Hills.
“Our research found that properties in these areas attract a 15% price premium (over an otherwise identical property).
“These areas include some highly desirable locations and the premium is likely to reflect the continued attractiveness of rural areas and the associated lifestyle.”
MOST EXPENSIVE
The New Forest remains the most expensive National Park in which to purchase a property, with an average price of £576,000. Villages within the park include Ashurst, Lyndhurst and Brockenhurst.
Meanwhile the South Downs has the highest resident population of any of the National Parks at 115,100. The park includes a number of sought-after towns in Hampshire and Sussex such as Petersfield, Liss, Midhurst and Petworth.
MOST VISITED
Harvey says: “The Lake District is the UK’s most visited National Park, with an estimated 18.1 million visitors per year, and is also the largest of the 13 National Parks in England Wales. The main towns include tourist hotspots such as Ambleside, Bowness-on-Windermere and Keswick.
“National Parks cover 20% of the land area in Wales, the highest proportion of the home nations, with the largest, Eryri (Snowdonia), covering 2,176km2.
“Meanwhile in Scotland, Loch Lomond and the Trossachs are the most visited National Park, with 50% of Scotland’s population living within an hour’s drive.”
The Areas of Outstanding Natural Beauty (AONBs), also known as National Landscapes, in England and Wales have been designated for conservation due to their significant landscape value. They vary greater in terms of size, type and use of land. AONBs cover 15% of England’s land area and are home to over one million people.
DESIRABLE PLACES TO LIVE
Harvey adds: “While not as well known as National Parks, these are desirable places to live and as such tend to see relatively high house prices. The table below shows average house prices in a selection of the largest AONBs.”
“Surrey Hills is the most expensive AONB in which to purchase property.”
“Surrey Hills is the most expensive AONB in which to purchase property, with average prices of £610,000. The AONB was designated in 1958 and covers a quarter of the county of Surrey. Around 40,000 people live in the Surrey Hills AONB, mostly in small villages and rural hamlets, such as Shere, Mickleham and Westhumble.
“The Chilterns AONB runs from the picturesque Goring-on-Thames up through parts of Oxfordshire, Buckinghamshire, Bedfordshire and Hertfordshire. A popular area for walking, the hills and woodlands provide striking landscapes and are also home to some highly desirable villages.
LARGEST AONB
“The Cotswolds is the UK’s largest AONB, stretching from North-East Somerset to South Warwickshire. Some of the main towns include Tetbury, Bourton-on-the-Water and Stow-on-the-Wold. As well as being a popular tourist destination, the Cotswolds central location and good rail accessibility also attracts commuters.
“The North Wessex Downs is another area which is popular with commuters, taking in sought after market towns Marlborough and Hungerford.
“Dorset AONB covers just over 40% of the county of Dorset, stretching from Lyme Regis to Poole Harbour and inland as far as Blandford Forum. The coastal part of the AONB is a highly popular tourist area and sees high levels of second homeownership.”
RENEWED INTEREST
Nigel Bishop of buying agency Recoco Property Search says: “National Parks have always been popular with a certain buyer demographic but have gained renewed interest during and post pandemic as more house hunters were seeking a lifestyle closer to nature.
“There is a certain allure and level of exclusivity to owning a home in a National Park.
“The property markets across parks do have a micro climate as supply and demand levels are very niche compared to the wider UK property market.
“Local authorities often have strict rules in place to control new developments being built.”
“To keep them protected, local authorities often have strict rules in place to control new developments being built.
“This results in very limited numbers of properties being available for sale and requires house hunters to have particular patience during their search.
“Buyers need to be aware that the limited supply of properties in and around National Parks does create a sellers’ market which can make price negotiations more challenging.
“Similar to coastal properties, it’s fair to say that, due to their popularity and the gap between supply and demand, properties in National Parks can demand a premium of at least 20%.”
