Homes near heritage sites 'cost £78,000 more'

Homes located near a World Heritage Site command a premium of £78,000 on average, new research suggests.

While the average residential property is valued at £284,000, those near a site that holds Unesco status are valued at £362,000 - a difference of 27%.

The research, by website Zoopla, found that the Orkney Islands are the UK's most affordable World Heritage Site near which to buy a property.

Homes close to the series of Neolithic monuments in this remote location currently cost an average of £130,169.

By contrast, properties in the proximity of the Palace of Westminster and Westminster Abbey are comfortably the priciest heritage location in the country with a typical value of £1,715,292, according to Zoopla.

%VIRTUAL-ArticleSidebar-property-guide%
The analysis also noted that the longer an area has enjoyed World Heritage Status, the higher the property values are, as the area reaps the economic benefits.

The first 10 UK locations to be granted World Heritage Status between 1986 and 1987, including Bath, Stonehenge and Blenheim Palace, have an average property value of £424,873, compared with just £274,611 for the locations chosen since 2000, it found.

Zoopla public relations head Lawrence Hall said: "Bradford and Liverpool offer fantastic opportunities for potential buyers to live in cities which have shaped world culture. Britain's World Heritage Sites have contributed massively to our history and our research shows that living near to one can add significantly to a property's value.

"Looking at the most recent site to gain World Heritage Status, home-owners near the Forth Bridge could expect to see property values increase in future, as the full benefits the award brings to the area begin to be felt."