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?
To discover whether living within walking distance of a stately home could potentially affect property value, we analysed the average property price in each local authority and compared this with the average price of properties surrounding 20 well-known stately homes within these areas. *
Which stately homes could add the most value to neighbouring properties?
1. Kenwood House, London
Camden’s Kenwood House, which once served as a residence for the Earl of Mansfield, could potentially drive up the value of nearby properties the most. With neighbouring properties estimated to cost £7,835,136 more on average compared to the average property price in the local authority (£814,864), it is estimated that properties within walking distance of this stately home are valued at 962% more than the average property price in Camden.
2. Apsley House, London
Also situated in London, more specifically the City of Westminster, Apsley House could potentially add the second highest value to neighbouring properties according to our analysis. The median price of properties within walking distance of the stately home is estimated to be £4,975,000, whilst the average price of a property within the local authority is valued at £955,145 – over £4,000,000 less and a difference of 421%.
3. Clarence House, London
Clarence House, attached to St James’s Palace, could potentially add the third most value to neighbouring properties of the 20 stately homes analysed in our study. Properties situated within walking distance of the royal residence of the Prince of Wales and Duchess of Cornwall had a median price of £3,450,000, whilst the average price of properties in the local authority is estimated to be £955,145. As a result, those living in the vicinity of the postcode SW1A 1BA are around £2,494,856 more expensive.
4. Sutton Park, Birmingham
Of the 20 stately homes analysed, Sutton Park in Birmingham could potentially increase the value of nearby properties 134% – the fourth highest amount. The 2,400-acre National Nature Reserve is one of Europe’s largest urban parks, and properties within the postcode have a median price of £475,000 – £271,935 higher than the local authority average.
5. Chawton House, Hampshire
In fifth is Chawton House in East Hampshire – a famous Elizabethan Manor House that once belonged to the brother of Jane Austen and is referenced throughout her literature. Properties located in the same postcode have a median value of £800,000, whilst the average price of a property in the broader local authority area is £402,629. This means the stately home could potentially increase value by 99%.
6. Tower of London, London
Properties within close proximity to the Tower of London have a median value of £850,000, which is £379,932 higher than the average local authority average price (£470,069). This is equivalent to an 81% increase from the local authority median price, leading the Tower of London to rank sixth.
7. Buckingham Palace, London
Renowned for being the London residence of the Queen, Buckingham Palace could potentially add the seventh highest value to properties situated nearby. The median price of properties within the postcode SW1 1AA comes to £1,315,000, whereas the property price in the broader local authority averages £955,145, meaning that residences close to the major tourist attraction could increase in value by £359,856 or 38%.
8. Leeds Castle, Kent
Based in Maidstone, Kent, Leeds Castle could potentially add the eighth greatest value to neighbouring properties. Whilst the average local authority property value is around £303,416, the median value for properties nearby the stately home is £407,500, which is £104,084 more. Or in other words, 34%.
9. Knole, Kent
Country house Knole could potentially add the ninth greatest value to properties that share the same postcode. Now owned by the National Trust, the median price for properties on the same postcode is £612,500, which is £153,994 higher than the average price of properties in Sevenoaks.
10. Kensington Palace, London
Situated in Kensington and Chelsea, Kensington Palace, home to The Duke and Duchess of Cambridge and their children, is a popular destination for visitors. Properties that share the same postcode with the palace have a median price of £1,625,000, which is £344,969 higher than the average property price in the London borough of Kensington and Chelsea. As a result, the stately home is estimated to potentially add the tenth greatest value to properties nearby.
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Methodology:
- Homedit.com sourced multiple lists of popular stately homes in England, Scotland, Wales, and Northern Ireland, including National Trust, Wales Online and Country and Townhouse.
- To obtain a definitive list of the most popular stately homes, every property was searched on SEMrush to find the current global monthly search volumes, indicating popularity.
- Homedit.com then identified the postcode of each stately home, as well as the local authority it comes under.
- The UK House Price Index was used to determine the average cost of houses in each local authority for 2021.
- Zoopla was used to find all houses for sale or sold STC within half a mile of each stately home’s postcode. 1/4 mile radius was used for postcodes in London.
- A median price was then calculated for each postcode, which was used to find a percentage increase or decrease from the local authority’s average price.
- All data was collected on 20/07/21 and is correct as of then, but subject to change.
Disclaimer: Some properties did not have sufficient data of houses sold within half a mile to be included in this study. All properties included had a minimum of seven houses for sale or sold STC, and a median was used to mitigate the effects of any outlying property values.
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