Buying a home in a national park will cost an extra £116,500

New Forest is the most expensive national park (£581,448) and Snowdonia is the most affordable (£180,126)
The average house price in a national park is 11.7 times higher than local average gross annual earnings.

Homes in national parks attract a premium of £116,501, according to new research from Lloyds Bank.

House prices in the twelve national parks surveyed* are, on average, £116,501 above the average for their surrounding county – a house price premium of 46%.

The majority (11 of 12) of national parks have higher house prices than the average for their county**, with four – the New Forest, the South Downs, the Peak District and the Lake District – attracting a premium in excess of £150,000.

The average house price in a national park of £368,804 is 11.7 times higher than local average gross annual earnings. The comparable ratio for England and Wales as a whole is 8.0.

Andrew Mason, mortgage products director, Lloyds Bank comments:

“Buying a home in one of the most beautiful spots in the country usually comes with a substantial price tag. New development is also very limited in these areas which can also be a contributing factor.

“With the difference between local earnings and property prices being so large, it can make it very challenging for those living and working in national parks to buy their own home.”

House prices in national parks up by over £51,000 since 2007, £20,000 lower than the rest of England and Wales

The average house price in national parks across England and Wales has increased by £51,463 (16%) over the past ten years, from £317,341 in 2007 to £368,804 in 2017. The biggest percentage increases were in South Downs (41%) and The Broads (23%).

However, the £51,463 increase is £19,998 lower when compared to the average house price rise since 2007 across the whole of England and Wales.

The Lake District commands the highest price premium

Properties in the UK’s most visited national park command the largest premium with average prices more than double (105% or £186,351) those in the surrounding area.

New Forest (86% or £268,856) and the Peak District (84% or £151,969) have the second and third highest premiums.

Snowdonia is the only national park where property prices are below the average for the surrounding area (-3% or -£4,936). With an average house price of £180,126, which is 6.8 times local average annual earnings, Snowdonia is the most affordable national park in the survey.

New Forest is the least affordable national park

The average house price in New Forest is £581,448, 15.2 times local gross average annual earnings. South Downs is the second least affordable with an average house price to earnings ratio of 14.9, followed by theLake District (11.5).

Table 1: National Parks House Prices – Premium to County

National Park	*Average House Price 2017 (£)**	Average House Price in County 2017* (£)**	Premium to County %	Premium to County £
Lake District National Park	364,193	177,843	105%	186,351
New Forest National Park***	581,448	312,592	86%	268,856
Peak District National Park***	332,706	180,737	84%	151,969
South Downs National Park	536,208	326,832	64%	209,377
Pembrokeshire Coast National Park	254,330	168,368	51%	85,962
Dartmoor National Park	309,154	243,871	27%	65,283
Yorkshire Dales National Park	277,557	219,247	27%	58,309
The Broads Authority	311,314	247,657	26%	63,657
Exmoor National Park	304,627	243,542	25%	61,085
North York Moors National Park	298,936	245,366	22%	53,570
Brecon Beacons National Park	222,631	194,355	15%	28,276
Snowdonia National Park***	180,126	185,062	-3%	-4,936
National Parks Average**	368,804	252,303	46%	116,501

Source: Lloyds Bank, Land Registry

Northumberland National Park excluded from the analysis due to insufficient number of sales

*January to June

** Weighted average by transactions.

******* Where more than one county is involved, a weighted average of relevant counties is used.

Table 2: Ranked by highest % house price increases, 2007- 2017

National Park	*Average House Price 2007 (£)**	*Average House Price 2017 (£)**	10 year % change	10 year £ change
South Downs National Park	379,656	536,208	41%	156,552
The Broads Authority	254,064	311,314	23%	57,251
Lake District National Park	313,470	364,193	16%	50,723
New Forest National Park	502,042	581,448	16%	79,407
Peak District National Park	287,365	332,706	16%	45,340
North York Moors National Park	258,950	298,936	15%	39,986
Brecon Beacons National Park	204,925	222,631	9%	17,706
Dartmoor National Park	291,246	309,154	6%	17,908
Exmoor National Park	290,002	304,627	5%	14,625
Pembrokeshire Coast National Park	245,115	254,330	4%	9,215
Snowdonia National Park	180,438	180,126	0%	-311
Yorkshire Dales National Park	290,667	277,557	-5%	-13,110
National Parks Average**	317,341	368,804	16%	51,463

Source: Lloyds Bank, Land Registry

Northumberland National Park excluded from the analysis due to insufficient number of sales

*January to June

** Weighted average by transactions.

Table 3: Ranked by home affordability, 2017

National Park	Price to Earnings ratio, 2017*
Snowdonia National Park	6.8
Brecon Beacons National Park	8.3
Yorkshire Dales National Park	8.6
Pembrokeshire Coast National Park	9.0
North York Moors National Park	9.2
The Broads Authority	9.6
Exmoor National Park	9.8
Dartmoor National Park	10.2
Peak District National Park	10.2
Lake District National Park	11.5
South Downs National Park	14.9
New Forest National Park	15.2
National Parks Average	11.7