The latest research by lettings and estate agent, Benham and Reeves, has revealed that postcodes home to a part of our military history are also home to higher house prices when compared to the wider area.
Benham and Reeves analysed house price data in outcodes home to 10 military locations and found that on average, property prices hit £618,225; 155% higher than the current average in Great Britain.
Hampshire’s Beaulieu Palace was home to the biggest price premium. The former finishing school for special ops agents is located in the New Forest’s S042 postcode where house price are currently 107% higher than the wider local authority.
The Frythe in Hertfordshire is home to the second-highest house price of all historic military locations. During the war, it was used as a secret research factory developing everything from vehicles and equipment to camouflage. Today house prices in the postcode are 69% higher than the wider area in which it is located.
Perhaps one of the most iconic is the Churchill War Rooms, an underground complex that housed the government command centre throughout World War II. Today, house prices in the SW1 postcode come in at £1.4m, 49% higher than the wider average in Westminster.
Other historically significant sites to see higher house prices to the wider area include the Silvermere Estate (43%), Chalfont Park House (36%), RAF Uxbridge (27%), Fort Henry (25%), Bletchley Park (9%), Tilbury Fort (8%), and Wilton House (6%).
Director of Benham and Reeves, Marc von Grundherr, commented:
“As a nation, we continue to remember the efforts and sacrifices of those brave men and women that fought across the major conflicts of the past.
Higher house prices in areas of military significance aren’t so much an indicator of buyer demand, but more a demonstration of the pride taken in maintaining these locations and remembering the significant roles they played in their day.”
Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents. With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 19 prominently located branches and 11 international offices.