Cost of homes near Chatsworth soars

Chatsworth House
Chatsworth House

The cost of property close to stately homes like Chatsworth House has soared this year, according to new research.

The Halifax reports that the average house price in an area close to a stately home was £319,203 in May 2015, compared to an average of £277,990 elsewhere in the same county.

In cash terms, the average price growth of £89,506 in areas with stately homes is more than twice the national increase of £39,311 in 2015.

The research found that in the immediate area around Chatsworth, house prices were £154,063 – or 89 per cent – more expensive than the rest of Derbyshire.

Martin Ellis, Housing Economist at Halifax, said: “Stately homes are not only attractive place 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.”

The Halifax report that house prices around stately homes has grown at a rate of £746 per month since 2005.

This means owners of these properties have seen the value of their home rise by an average of £89,506 over the past decade, from £229,697 in 2005 to £319,203 in 2015.

The 39 per cent increase in the average property price is equivalent to a monthly rise of £746.