The Downton Abbey effect: Why property near stately homes is booming

The Downton Abbey effect has struck again.

The Downton Abbey effect has struck again.

New research has revealed that properties which share a postcode with period stately homes are seeing a bumper price boom.

The report by the Halifax found the ‘Downton Abbey effect’ is adding an average of £41,000 to the value of nearby properties.

On average, a house within the same postcode as a stately home now costs £319,203 – compared with
£277,990 for a similar property outside of the mansion-heavy area.

Homeowners with property near a stately home in some parts of the country have even seen their house price rise in value by £9,000 every year during the last decade. This totals an increase of around £90,000 since 2005, compared to the national average of £39,000.

The report also looked at property prices in the same area as Highclere Castle – where Downton Abbey
is filmed.

Homeowners in the same postcode as the castle in Newbury, Berks, have seen their property price leap by a whopping 40% in the last 10 years, during which the hit ITV drama first aired. In 2005 the average property price in the area was £366,639, and today this figure rests at £512,226.

Commenting on the findings, Martin Ellis, housing economist at the Halifax, said: “Stately homes are not only attractive places to visit but, as our research shows, desirable places to live near to.

“Since 2005 the average house price growth in areas close to stately homes has been more than double the national figure. It can cost home buyers, on average, £41,000 extra to live nearby to a stately home compared to neighbouring areas.”

Fancy yourself as Lord or Lady of the manor? Don’t miss our interiors tour of Highclere Castle – the real Downton Abbey.

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