UK Mortgage Holders Pay Premium to Live in Protected Spaces

Some UK mortgage holders are paying a hefty premium to live within Britain’s protected green spaces. 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.

Living in a National Park comes at a cost

This means that buyers are facing a 48% premium to live in these protected areas. Frances McDonald, director of research at Savills, explained that over the last few years, buyers have reevaluated their priorities, leading to a surge in interest in living amongst greenery or nearby access to green space.

Living within a National Landscape (formerly Area of Outstanding Natural Beauty) commands an even higher price tag, with an average price of £581,121. This is a significant premium, and one that many buyers are willing to pay for the privilege of living in these protected areas.

The countryside is a desirable place to live

The desire to live in these areas is driven by a desire for a better quality of life, with access to green spaces and a more relaxed pace of life. While the premium may seem high, for many, it is a price worth paying.

Green spaces are highly sought after

As the demand for housing in these areas continues to grow, it will be interesting to see how the market responds. Will prices continue to rise, or will developers find ways to make these areas more accessible to buyers?

Only time will tell, but one thing is certain - the desire to live in Britain’s protected green spaces is not going away anytime soon.