PropertyInvesting.net: property investment ideas, advice, insights, trends
Propertyinvesting.net: Property Investment ideas, advice, insights, trends

PropertyInvesting.net: Property Investment News

 Property News

more news articles...

Downton Abbey sends house prices leaping 40% - the Brits reaping the mansion effect


09-19-2015

Hit drama Downton Abbey has kept some families glued to the screen - and made other ones very wealthy indeed. Here's how some Brits are winning mansion Monopoly

Mansions across the UK are benefiting from the Downton Abbey effect

The Downton Abbey effect is sending prices of homes near stately piles through the roof, adding an extra £41,000 to the value.

According to a report by the Halifax, properties which share the same postcode as a posh pad owned by real life Lord and Lady Granthams, are seeing a boom.

On average, a house set within striking distance of a mansion that boasts a butler like the hit drama’s Carson - played by Jim Carter - costs £319,203 compared with £277,990 for a place with no manor house in the area.

The research found families living in the same postal area as Highclere Castle, Newbury, Berks where Downton is set, have seen house prices rocket by 40% in the last ten years from £366,639 to £512,226.

Those living in the shadows of Kenwood House, Hampstead Heath, north west London are enjoying the biggest hike with house prices soaring by 140% from £586,292 to £1.4 million.

It isn't just Kenwood that's worth millions

Incredibly, those living close to a stately home have seen prices leap by £746 a month since 2005, the Halifax study revealed.

While the south has benefited the most from the Downton effect, northern piles have also boosted prices.

Properties around The Tabley House, Knutsford, Cheshire have seen a 46% leap in prices between May 2005 and May 2015 with costs soaring from £275,114 to £400,669.

And in Norfolk, home owners living close to Holkham Hall, Wells-next-the-Sea have pocketed £137,187 over ten years as prices rose by 62% to £359,037.

On average, stately homes have raised the value of nearby properties by 39% compared with the national increase of 22%.

In cash terms, the difference is more than double with those living near Downton style piles seeing prices rocket by £89,506 in the last decade, compared with £39,311 for those with no Granthams nearby.

Martin Ellis, housing economist at Halifax, said: “Stately homes are not only attractive places to visit but, as our research shows, desirable places to live near to.

“Since 2005 the average house price growth in areas close to stately homes has been more than double the national figure. It can cost home buyers, on average, £41,000 extra to live nearby to a stately home compared to neighbouring areas.”

www.mirror.co.uk

back to top

Site Map | Privacy Policy | Terms & Conditions | Contact Us | ©2018 PropertyInvesting.net