Paying a premium
THE premium for living among England’s architectural conservation areas has risen in the past three years, with buyers now expecting to pay 31% more than average to live in one, the latest research from Savills has revealed.
Defined as places ‘of special architectural or historic interest as deserving of careful management to protect their character’, conservation areas make up 2.2% of England, encompassing about 10,000 properties. Savills’s analysis has shown that properties in these areas are worth about £400,000 on average, compared with an average price of £305,730 in non-conservation areas. Perhaps unsurprisingly, London has the largest premium for its conservation areas, with Savills concluding that you are likely to pay 48% more to live in one. This is more than
