Property news roundup: 18% premium on properties in National Parks

Plus exchange-to-completion times, 'Granlords', and a detached teapot

Alex Johnson
Tuesday 28 January 2014 11:56
Comments
The Magical Teapot, Linthill Studio, Lilliesleaf, Melrose, Scottish Borders TD6. Guide price £10,000. On with Rettie.
The Magical Teapot, Linthill Studio, Lilliesleaf, Melrose, Scottish Borders TD6. Guide price £10,000. On with Rettie.

Figures from Nationwide suggest there is an 18 per cent premium for a property situated within a National Park and an eight per cent premium for a property within 5km of a National Park

"Around 190,000 households in Great Britain are located within the boundaries of National Parks," said Robert Gardner, Nationwide's Chief Economist. "National Parks are highly desirable areas to live thanks to the beautiful countryside. Development is also strictly controlled, with very little in the way of new housing construction, which also helps to explain why prices are relatively high.

"The Peak District serves the highest number of people, with around 5.9 million living within 25km of its boundary. Its central location makes it accessible from major population centres such as Derby, Sheffield and Manchester."

England’s newest National Park, The South Downs National Park in Hampshire and Sussex,contains the highest number of households, around 47,000. The park includes a number of towns including Petersfield, Liss, Midhurst and Petworth.

How long between exchange and completion?

The length of time between ‘exchange and completion’ when buying or selling a property, is falling, according to research by myhomemove. In a fifth of cases, exchange and completion happened on the same day, while it was fewer than 14 days for 85 per cent of movers. This compares to the traditional industry standard of 28 days .

Doug Crawford, CEO of myhomemove, said: "Our research suggests that this shift began during the 1990s and grew throughout the 2000s, mirroring the emergence and establishment of the internet. Today people generally search for properties online, so it’s no wonder their expectation is to be able to ‘click and buy’ and to reach completion as quickly as possible."

Rise of the 'Granlord'

One in seven pensioners is considering renting out rooms to make ends meet, claim MORE TH>N Home Insurance who are predicting a "tidal wave of reluctant retired landlords" which they are calling ‘Granlords’. Matthew Poll of MORE TH>N said that the ‘Granlord’ trend is most noticeable in London where 20 per cent of retired homeowners say they feel they have no choice but to let a room in their property.

Two storey ‘teapot’ for sale

The Magical Teapot, Lilliesleaf, Melrose on the Scottish Borders (pictured above) is a 'detached house' for sale at a guide price of £10,000. It's a two-storey property and is being marketed as a quirky fishing hut, VIP lounge or 'Hobbit Hideaway. The buiilding is 21ft in diameter, purchaser to collect.

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