Shropshire Star

Why a view of the Iron Bridge is worth a bit extra on your house price

Living in areas near a cultural landmark, such as Ironbridge, is not only good for the soul, it can also be good for your bank balance.

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The latest research shows that homes located near a World Heritage Site on average command almost £80,000 more than the national average house price.

The average residential property is valued at £284,000, but those near a Unesco status site are valued at £362,000 – a difference of 27 per cent.

The research, by website Zoopla, found that the UK's most affordable World Heritage Site is on the remote Orkney Islands, where homes near the Neolithic monuments cost an average of just over £130,000.

At the opposite end of the scale, properties close to the Palace of Westminster and Westminster Abbey are the most expensive, with a typical value of over £1.7 million. Ironbridge Gorge gained its World Heritage Status in 1986 and has an average property value of £256,992, which is some £27,000 below the national average.

Paul Steadman, a residential valuer at Nick Tart Estate Agents, said that the attraction of the Heritage Status sites is not all about financial gain.

He said: "A lot of people moving into Ironbridge are from outside the immediate area. They are people who may have visited the area as tourists, like what they saw and decided to move here.

"It isn't just about its investment potential, it is about the lifestyle that the town gives people who live here, with its views over the gorge and restaurants along the river.

"They are also drawn to the type of property the town has. Areas like Telford have mostly post-1970s architecture, but people are drawn to Ironbridge by its period properties."

Lawrence Hall, from Zoopla, 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.

The property analysis noted that the longer an area has enjoyed World Heritage Status, the higher the property values are, as the area reaps the economic benefits.

Homes near to the Pontcysyllte Aqueduct World Heritage Site have an average property value of £196,404.

Meanwhile, 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.

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