July 25 2014 Latest news:
By Anthony Carroll
Monday, July 16, 2012
A new report has shown that the average house price in conservation zones is higher than properties outside the zones as buyers take the chance to live in historic areas which will remain mainly unchanged.
The national survey, which features examples from Norfolk and Suffolk, examined one million property sales between 1995 and 2010.
It shows in Norwich the average sale of a house in conservation zones was £180,475 - 8.15pc higher than properties outside zones, which sold at an average of £166,878.
In Lowestoft and Beccles the average price of a sale in a conservation zone was £162,7279 - more than 5pc higher than other homes in normal areas, which sold at £154,914.
The report also shows that in King’s Lynn and Fakenham the average sale in a zone was £149,485 - 0.07pc higher than other properties.
While in Thetford and Mildenhall the average sale was £151,909 - 0.43pc higher compared to others.
The report by English Heritage and London School of Economics and Politics has another statistic which shows in East Anglia the average £1/sqm price in a conservation zone was 7.5pc higher than other areas.
Michelle Daisley, residential sales manager of Norwich-based property services firm Arnolds Keys, said: “By their very nature conservation areas are distinctive in some way and this will always attract buyers.
“One very big plus is when you buy a property in a conservation area, you know that area is unlikely to change significantly, as broadly, speaking there will be an assumption against development.
“Quite often there is a feel you are living within a protected piece of history.”
She added the flip side of conservation zones was less freedom to make possible changes, such as changing front doors and building extensions.
Danny Steel, partner of Lowestoft-based Ganaden Properties, said: “People are attracted to conservation areas because there is the perception these localities are more likely to be well maintained by both the residents and the local authority.”
Lee Shuardson, of King’s Lynn-based Sowerbys, said: “Period property located within towns and villages in Norfolk is in constant demand, even in these adverse market conditions.
“Buyers of these properties are not just buying a house, they are buying into a lifestyle and are happy to pay a premium for this.
“They become custodians, if you like, of historically important areas.”
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