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Would You Pay £119k More To Live In A National Park Area?

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Mon 05 Dec 2016

Would You Pay £119k More To Live In A National Park Area?

National Parks are some of Britain’s greatest gems, with protected villages and beautiful landscapes as far as the eye can see. Therefore, it’s no surprise that so many people want to live in these areas, but are you prepared to pay £119,000 more for the privilege of doing so?

 

According to Lloyds Bank, homebuyers pay a huge premium of £118,711 to live in one of these coveted parks, which is typically 49 per cent more than the cost of a home in the surrounding county.

 

The average cost of a property in one of England and Wales’ 12 National Parks is £360,671, which is also significantly higher than the national average of £277,260.

 

Andrew Mason, Lloyds Bank mortgage products director, said: “Quality of life and an attractive environment are two major factors for people eyeing their next home move, and our National Parks provide both of these in abundance.”

 

However, he noted that as houses in these areas are typically 12 times greater than the average salary, those who currently live and work there may not be able to afford to buy a property.

 

This is especially the case as house prices in National Parks have soared by £68,000 over the last ten years, rising in value by 23 per cent from £292,943 in 2006.

 

Mr Mason suggested that these areas are instead very attractive to second-home buyers, which could mean people retiring or buying a holiday cottage are more likely to look at National Park properties as opposed to those originally from the region.

 

Homebuyers considering a move to the Yorkshire Dales National Park or the North York Moors National Park may instead look for estate agents in Beverley where they are likely to find much cheaper properties.

 

Additionally, the picturesque town is just an hour’s drive from the North York Moors National Park and one hour and 45 minutes from the Yorkshire Dales National Park, so homeowners can easily enjoy the beautiful countryside scenery on weekends.

 

 

Formerly beercock wiles & wick, beercocks is a family-run estate agents that covers the Hull, Beverley, East Riding of Yorkshire and the North Lincolnshire areas. Give us a call today.