Surrey Hills tops price list of picturesque locationsMonday, 11 June 2012 09:06
Surrey Hills has topped the list as the most expensive picturesque place to buy a home.
This finding comes out of a Lloyds TSB survey of 32 Areas of Outstanding Natural Beauty (AONB) in Britain.
AONB locations are identified by the Land Registry as areas of landscape with distinctive character and natural beauty that is so outstanding it needs to be safeguarded.
In Surrey Hills the average house price is £407,568.
This is well above the second most-expensive location of High Weald where house prices sit at £329,441.
Overall it seems a picturesque view does make a difference when it comes to buying and selling a home.
The survey found that the average house prices across these 32 locations rose by a whopping 87 per cent in the past ten years.
This is a rise of about £109,355 during the decade, equivalent to about £900 per month.
The average house price in these locations was just £125,860 in 2002 but has since jumped up to £235,215.
“The relatively high property values in many of these locations reflect the quality of life benefits associated with living in some of our most idyllic beauty spots,” Suren Thiru, housing economist at Lloyds TSB said.
“However, the fact that property prices have typically risen considerably faster than average earnings has created significant affordability difficulties for many of those living and working in such locations."
For example an average homebuyer will have to hand over an additional £14,951 to live in one of these locations.
And the average home in these beautiful areas costs seven times the average gross annual wage.