Knight Frank reveals
The South Downs in Sussex is the most expensive National Park in England and Wales in which to buy a property, according to analysis conducted by Knight Frank.
The research, which looked at the average sold price for detached homes within the boundaries of National Parks in England and Wales in the 12 months to January 2017, shows the average price paid in the South Downs was just over £674,000, nearly double the £350,000 average price of a detached property in England and Wales.
The New Forest – which was only designated as a National Park in 2005 – was the second most expensive area, with detached properties selling on average for £620,000. In comparison, the average price paid for a detached property in the wider county of Hampshire over the same time was just over £444,000.
More restrictive planning regimes within National Parks means that supply of new stock can often fall short of demand, and this is one factor underpinning pricing. Additionally, higher prices relative to their surrounding areas is likely to be reflective of the type of housing stock found within their boundaries.
Snowdonia was the least expensive National Park, with detached property prices £202,000 on average, just behind Northumberland at £242,000.
Oliver Knight, an Associate in Knight Frank’s Residential Research team, said: “The high quality of life connected with living in some of the most distinctive landscapes in England and Wales is an obvious attraction for many home buyers, but this often comes with a premium. More restrictive planning regimes in place within National Parks and Areas of Outstanding Natural Beauty means supply can often fall short of demand and this – along with the nature of existing stock, which tend towards older, larger homes with land – has underpinned pricing.
Wider trends we’re experiencing in the housing market are also evident, not least the north-south divide in terms of pricing, with the South Downs and the New Forest topping the pricing charts. The London ripple effect is also evident within popular commuter location such as the Surrey Hills and the Chilterns.”
Average price paid: 12 months to Jan 2017, detached property
|National Park|| |
|South Downs||£674,268||West Sussex||£487,926|
|Yorkshire Dales||£344,397||North Yorkshire||£290,344|
|North York Moors||£296,038||North Yorkshire||£290,344|