Could Living Near a Stately Home Increase Property Value?
With thousands of visitors flocking to marvel at the magnificent stately homes spread throughout the UK, either for their history or beauty, it is no secret that manor houses add character to a local area. But could they besides add value to the properties nearby, and if and then, how much?
To find whether living within walking altitude of a stately dwelling house could potentially touch belongings value, we analysed the average belongings toll in each local authority and compared this with the boilerplate price of properties surrounding 20 well-known stately homes inside these areas. *
Which stately homes could add together the virtually value to neighbouring properties?
1. Kenwood House, London
Camden'due south Kenwood House, which once served every bit a residence for the Earl of Mansfield, could potentially drive upwardly the value of nearby properties the about. With neighbouring backdrop estimated to cost £7,835,136 more on boilerplate compared to the average property toll in the local authority (£814,864), information technology is estimated that properties within walking distance of this stately home are valued at 962% more than the boilerplate holding price in Camden.
2. Apsley House, London
Also situated in London, more specifically the Urban center of Westminster, Apsley Firm could potentially add the second highest value to neighbouring properties co-ordinate to our analysis. The median cost of properties within walking distance of the stately home is estimated to be £4,975,000, whilst the average price of a property within the local authorisation is valued at £955,145 – over £four,000,000 less and a difference of 421%.
iii. Clarence House, London
Clarence Business firm, fastened to St James'south Palace, could potentially add the third about value to neighbouring properties of the 20 stately homes analysed in our report. Properties situated within walking distance of the imperial residence of the Prince of Wales and Duchess of Cornwall had a median cost of £3,450,000, whilst the average price of backdrop in the local say-so is estimated to be £955,145. Equally a event, those living in the vicinity of the postcode SW1A 1BA are effectually £2,494,856 more expensive.
iv. Sutton Park, Birmingham
Of the 20 stately homes analysed, Sutton Park in Birmingham could potentially increase the value of nearby properties 134% – the fourth highest amount. The ii,400-acre National Nature Reserve is i of Europe'southward largest urban parks, and properties within the postcode accept a median price of £475,000 – £271,935 college than the local authority average.
View in gallery 5. Chawton House, Hampshire
In 5th is Chawton House in E Hampshire – a famous Elizabethan Estate House that once belonged to the brother of Jane Austen and is referenced throughout her literature. Properties located in the same postcode have a median value of £800,000, whilst the average price of a holding in the broader local authority expanse is £402,629. This means the stately home could potentially increase value by 99%.
vi. Tower of London, London
Properties within close proximity to the Tower of London have a median value of £850,000, which is £379,932 higher than the average local authorization average price (£470,069). This is equivalent to an 81% increase from the local authority median price, leading the Tower of London to rank sixth.
7. Buckingham Palace, London
Renowned for being the London residence of the Queen, Buckingham Palace could potentially add the seventh highest value to backdrop situated nearby. The median price of properties inside the postcode SW1 1AA comes to £one,315,000, whereas the holding cost in the broader local authority averages £955,145, significant that residences shut to the major tourist attraction could increase in value by £359,856 or 38%.
8. Leeds Castle, Kent
Based in Maidstone, Kent, Leeds Castle could potentially add the eighth greatest value to neighbouring properties. Whilst the average local authority property value is around £303,416, the median value for properties nearby the stately abode is £407,500, which is £104,084 more. Or in other words, 34%.
nine. Knole, Kent
Country house Knole could potentially add the ninth greatest value to properties that share the aforementioned postcode. Now endemic past the National Trust, the median price for backdrop on the same postcode is £612,500, which is £153,994 higher than the boilerplate price of properties in Sevenoaks.
ten. Kensington Palace, London
Situated in Kensington and Chelsea, Kensington Palace, home to The Duke and Duchess of Cambridge and their children, is a popular destination for visitors. Properties that share the aforementioned postcode with the palace have a median price of £one,625,000, which is £344,969 higher than the average holding price in the London civic of Kensington and Chelsea. Equally a effect, the stately home is estimated to potentially add the tenth greatest value to properties nearby.
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Methodology:
- Homedit.com sourced multiple lists of popular stately homes in England, Scotland, Wales, and Northern Ireland, including National Trust, Wales Online and Country and Townhouse.
- To obtain a definitive listing of the about popular stately homes, every property was searched on SEMrush to find the current global monthly search volumes, indicating popularity.
- Homedit.com then identified the postcode of each stately habitation, as well as the local authority it comes under.
- The UK Firm Price Index was used to determine the boilerplate cost of houses in each local authority for 2021.
- Zoopla was used to find all houses for sale or sold STC inside half a mile of each stately home'due south postcode. 1/iv mile radius was used for postcodes in London.
- A median cost was then calculated for each postcode, which was used to find a percentage increase or decrease from the local say-so's boilerplate cost.
- All information was nerveless on 20/07/21 and is correct as of then, but subject to change.
Disclaimer: Some backdrop did not take sufficient data of houses sold within half a mile to be included in this report. All properties included had a minimum of seven houses for sale or sold STC, and a median was used to mitigate the effects of whatsoever outlying property values.
Source: https://www.homedit.com/stately-homes-increase-property-value-study/
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