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Posh villages command house price premium of 116%

15 May Posh villages command house price premium of 116%

The latest research by Yopa, the full-service estate agents, has revealed Britain’s poshest villages command an average house price premium of 116%, with the average price of a home in the current market sitting at £679,544

Yopa analysed the property markets across 12 of the nation’s poshest villages, from the Dorset village of Studland to Alderley Edge in Cheshire East, looking at the average price of a home, as well as the property price premium they command versus the wider local authority in which they are located.

The research shows that, on average, a property in one of the nation’s poshest villages will set you back £679,544, a huge 116% price premium versus the average cost of purchasing within the wider area.

When it comes to the most expensive of the lot, Studland takes the crown as the nation’s poshest village, with an average house price of £1.9m, with the average house price having soared by 47% in the last year alone according to Rightmove.

The village is also home to the poshest price premium, with the current average house price sitting 444% higher than the wider average found across the local authority of Dorset.

Harpsden is Oxfordshire is the second most expensive with an average house price of £1.7m, followed by the Cornish village of Rock where the average home costs £1.2m. Homes in Sunningdale in Windsor and Maidenhead also command an average price north of £1m.

Both Harpsden and Rock also rank within the top three where house price premiums are concerned, with homes in Harpsden commanding 266% more than the wider area of South Oxfordshire, while the average house in Rock will cost you 298% more than the average price of a home across Cornwall.

However, not all posh village property purchases will cost you £1m or more. Saltaire in Bradford is home to an average house price of just £203,184, while the average house price in Hodnet in Shropshire also comes in below the £500,000 mark at £332,000.

At 22% and 27% respectively, both villages are also home to the lowest house price premiums when compared to the local authorities in which they are found.

Yopa’s National Franchise Director, Steve Anderson, commented:

“It doesn’t get more quintessentially English than the relaxed pace of village life and our property market boasts a plethora of picture perfect village locations enticing homebuyers away from the hustle and bustle of towns and cities.

Who can blame them, with village locations boasting beautiful green spaces, lower crime rates, good schools, cosy pubs and charming homes with individual character.
Of course, while a more remote location can mean a greater degree of house price affordability, this certainly isn’t guaranteed. As our research shows, when it comes to house prices across some of the poshest villages in the nation, village life doesn’t come cheap.

What’s more, these posh property pockets of the countryside command strong house price premiums when compared to the wider area, with premiums starting at around 20% and climbing as high as 444%.”