The Hidden Costs of Living in a National Park

Living in a National Park or a National Landscape (formerly Area of Outstanding Natural Beauty) comes with a hefty price tag. According to a recent study by Savills, the average price of a property sitting within the boundaries of a National Park is £422,225, compared with a county average of £279,171. This means that buyers face paying a 48% premium to live in these protected areas.

Living in a National Park comes with a hefty price tag

But why are people willing to pay such a high premium to live in these areas? Frances McDonald, director of research at Savills, believes that it’s because people are reevaluating their priorities and seeking a better quality of life. With the increasing importance of green spaces and access to nature, it’s no wonder that people are willing to pay more to live in areas that offer these amenities.

Access to green spaces is becoming increasingly important

However, it’s not just National Parks that are commanding a premium. Properties in National Landscapes (formerly Areas of Outstanding Natural Beauty) are also selling for a higher price tag, with an average price of £581,121. This is a staggering 48% more than the county average.

Properties in National Landscapes are selling for a higher price tag

But it’s not all doom and gloom for those who can’t afford to live in these areas. According to Mark Arnold, head of savings and mortgages at Barclays, aspirations of home ownership remain strong, particularly as the cost of renting exceeds average mortgage payments in many locations.

Aspirations of home ownership remain strong

In fact, despite increased housing costs, the month-on-month difference was marginal, indicating that consumers may not be feeling worse off in the short term. This is likely due to the decrease in the Ofgem energy price cap in April, which has given consumers some relief.

The decrease in the Ofgem energy price cap has given consumers some relief

In conclusion, while living in a National Park or National Landscape comes with a hefty price tag, it’s clear that people are willing to pay more for the benefits that these areas offer. With the increasing importance of green spaces and access to nature, it’s likely that these areas will continue to command a premium.

Living in a National Park or National Landscape comes with a hefty price tag