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Buying a home in a national park will cost an extra £116,500

Nov 28, 2017

National-Park

Homes in national parks attract a premium of £116,501, according to new research from Lloyds Bank. House prices in the twelve national parks surveyed are, on average, £116,501 above the average for their surrounding county - a house price premium of 46%.

The majority (11 of 12) of national parks have higher house prices than the average for their county, with four – the New Forest, the South Downs, the Peak District and the Lake District - attracting a premium in excess of £150,000.

The average house price in a national park of £368,804 is 11.7 times higher than local average gross annual earnings. The comparable ratio for England and Wales as a whole is 8.0.

Figures showed that the New Forest is the most expensive national park with the average house price coming in at £581,448, 15.2 times local gross average annual earnings. South Downs is the second least affordable with an average house price to earnings ratio of 14.9, followed by the Lake District (11.5).

 Original source - http://www.lloydsbankinggroup.com/Media/Press-Releases/press-releases-2017/lloyds-bank/buying-a-home-in-a-national-park-will-cost-an-extra-116500/

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