UK homebuyers would pay more to live near royal homes

The study by specialist lender Together also looked at current house prices to reveal that the average sold price for a property near the King’s Sandringham Estate in the past 12 months is £309,188 – over £21,100 more than the national average.

Station House in Wolferton, which is part of the Sandringham Estate, is on the market for £1.1m (Image: Sowerbys)

As part of the study, Together found that nearly half - 49pc - of younger buyers aged 18-34 years old would be influenced by the property’s location near a Royal palace. This compares to 26pc of those aged 35 to 54 years old and just 7pc of those aged 55 and over.

Over a third (36pc) said moving to a Royal borough would make them feel safe living in the area, 31pc believed it would increase the value of their property when they came to sell and 26pc thought it would help boost the overall financial value and economic success of the surrounding town.

However, nearly a quarter (23pc) admitted the main reason for wanting to buy and live near a Royal property would purely be to tell people, with 18pc believing doing this would impress their friends and family.

Separate research by estate agents Savills has also discovered that the price tags on homes in streets which include the word “royal” are, on average, 24pc higher than those without.

Research by Savills has found that streets containing the word “king” typically fetch higher prices (Image: Newsquest)

Savills used Land Registry data to look at the average selling prices between 2000 and 2022 to make the findings, although streets with fewer than 10 sales over the past two decades were excluded from the study.

Streets containing the word “king” were also found to have typically higher prices - around £354,922 - although those containing the word “crown” or “Windsor” were typically lower, at £330,662 and £295,531 respectively.