Property prices in the majority of postal areas near stately homes have increased in the past ten years, new research from Halifax shows.
Buying a house in proximity to a stately home means paying a £41,000 premium on average compared to neighbouring areas.
The average house price in an area with a stately home was £319,203 in May 2015, compared to an average of £277,990 in the counties with stately homes in the survey – a premium of £41,213 (15 per cent).
Average house prices in nearly all stately home areas (76 per cent) in the survey have increased in the past decade. The largest price growth was in the area of Kenwood House (£822,810 or 140 per cent), followed by Ham House (£451,123 or 89 per cent), and Hatfield House in Hatfield (£228,367 or 71 per cent).
The only area to record a fall in average price since 2005 is Coleraine in Northern Ireland, home to Downhill House and Mussenden Temple, (£12,977 or -10 per cent).
Southern England home to most expensive stately home locations
Homes close to Kenwood House in Hampstead Heath are the most expensive in this survey, with an average price of £1,409,102. Kenwood House is followed by the area surrounding Ham House in Richmond upon Thames (£956,040); Hatfield House in Hatfield (£549,654) and the area around Ightham Mote in Sevenoaks (£514,572).
Lowest property prices around stately homes are all in the North
Property values in the areas around Auckland Castle in Bishop Auckland are the lowest in this survey with an average house price of £104,391. The next lowest are in the areas around the Argory in Dungannon in Northern Ireland (£119,967) and Llancaiach Fawr Manor in Treharris in Wales (£120,115).
Commenting on the research, Martin Ellis, housing economist at Halifax, said:
“Stately homes are not only attractive place to visit but, as our research shows, desirable places to live near to. Since 2005 the average house price growth in areas close to stately homes has been more than double the national figure. It can cost home buyers, on average, £41,000 extra to live nearby to a stately home compared to neighbouring areas.”
Loading ...