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 also add value to the properties nearby, and if so, how much?
Interested in finding out, Homedit.com decided to find out just which UK stately homes have the biggest impact on the value of their surrounding houses.
Homedit found that, on average, living next to a stately home could increase your property value by £816,485, which is an increase of 104%.
Stately homes that increase local property values:
|Stately Home and Local Authority||Local Authority Average House Price||Postcode Median House Price||% Change from Local Authority Price|
|#1||Kenwood House, Camden||£814,864||£8,650,000||962%|
|#2||Apsley House, City of Westminster||£955,145||£4,975,000||421%|
|#3||Clarence House, City of Westminster||£955,145||£3,450,000||261%|
|#4||Sutton Park, Birmingham||£203,066||£475,000||134%|
|#5||Chawton House, East Hampshire||£402,629||£800,000||99%|
|#6||Tower of London, Tower Hamlets||£470,069||£850,000||81%|
|#7||Buckingham Palace, City of Westminster||£955,145||£1,315,000||38%|
|#8||Leeds Castle, Kent||£303,416||£407,500||34%|
|#10||Kensington Palace, Kensington and Chelsea||£1,280,031||£1,625,000||27%|
|#11||Blenheim Palace, West Oxfordshire||£358,752||£445,000||24%|
|#12||Windsor Castle, Windsor and Maidenhead||£481,097||£585,000||22%|
|#13||Montacute House, South Somerset||£257,047||£300,000||17%|
|#14||Arundel Castle, Arun||£310,689||£354,950||14%|
Homedit found that 14 out of the 20 most popular stately homes increased the value of nearby houses.
The largest increases were all found in London, which takes the top three spots. The smallest increase is Arundel Castle in Arun, where nearby properties cost on average £44,262 more than those in the wider community.
Stately homes that decrease local property values:
|Stately Home and Local Authority||Local Authority Average House Price||Postcode Median House Price||Price Decrease of Living Near Stately Home||% Change of Living Near Stately Home|
|#1||Warwick Castle, Warwick||£326,263||£242,500||-£83,763||-26%|
|#2||Hatfield House, Welwyn Hatfield||£411,834||£315,000||-£96,834||-24%|
|#3||Osborne House, Isle of Wight||£244,538||£210,000||-£34,538||-14%|
|#4||Tredegar House, Newport||£194,037||£169,500||-£24,537||-13%|
|#5||Hampton Court Palace, Richmond Upon Thames||£708,357||£649,950||-£58,407||-8%|
|#6||St Michael’s Mount, Cornwall||£264,080||£252,500||-£11,580||-4%|
However, not all local property values were increased by being in close proximity to a stately home – in fact, 6 out of the 20 stately homes analysed actually decreased the value of nearby houses.
The largest decrease was of 26% for houses near Warwick Castle, closely followed by a 24% decrease for houses near Hatfield House.
The smallest decrease was to houses near St Michael’s Mount in Cornwall, where houses are worth an average of £11,580 less than properties in the wider community.