South Downs tops table of National Park house prices

South Downs competeition, Hidden gems SUS-140909-152754001
South Downs competeition, Hidden gems SUS-140909-152754001

The South Downs has been crowned as the most expensive National Park in which to buy a home after its house prices went up by ten per cent this year.

All but one of Britain’s nine National Parks saw a rise in annual house prices on last year, according to data released by building society Nationwide.

However, with its ten per cent annual increase, the South Downs now tops the table as the most expensive location, taking over the lead from the New Forest, which sits in second place.

The South Downs stretch along the south eastern coast between Hampshire and Sussex and the area has around 47,000 households, the average price of which is £351,000.

This figure is £5,000 more than the average house price in New Forest and £100,000 more expensive than the average house price in the Lake District, which is third in the table.

National Parks are a highly sought-after place to live owing to its picturesque scenery. Also, due to strict controls on development, there is very little in the way of new housing constructions, thus adding extra value to the existing properties.

The reason behind the South Downs’ rise to the top of the standings could be put down to its proximity to London and the typically warmer climate of the South coast.

Homebuyers planning a move to the countryside will look to pay 21 per cent more for their properties – an extra £39,000 in cash terms - based on the current average house price - an increase from an 18 per cent premium last year.

Homes across the UK rose by £2,000 a month as the average house price jumped 10.4 per cent in the year to October, according to the latest figures from the Office for National Statistics (ONS).

Property prices reached an average of £271,000 in October, the ONS index showed – £24,000 higher than at this stage a year earlier.

Despite seeing the highest rise in annual house prices at an increase of 16 per cent, Snowdonia in North Wales was named as the cheapest National Park in which to buy a home, with the average house price sitting at just £138,000 - £213,000 less than in the South Downs.