Property prices in areas of military significance

Property prices in areas of military significance

9:45 AM, 11th November 2020, About 3 years ago

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Research by Benham and Reeves, has revealed that postcodes home to a part of our military history are also home to higher property prices when compared to the wider area. House price data in postcodes home to 10 military locations indicated that on average prices hit £618,225 which is 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 prices 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.”

Military Location Postcode Postcode Average House Price Local Authority Local Auth Average House Price Diff. (%)
Beaulieu Palace SO42 £706,967 New Forest £342,016 107%
The Frythe AL6 £649,718 Welwyn Hatfield £384,984 69%
Churchill War Rooms SW1 £1,431,832 Westminster £963,725 49%
Silvermere Estate KT11 £869,273 Elmbridge £607,255 43%
Chalfont Park House SL9 £757,869 Chiltern £557,881 36%
Battle of Britain Bunker – RAF Uxbridge UB10 £524,107 Hillingdon £413,445 27%
Fort Henry BH19 £362,465 Dorset £290,595 25%
Bletchley Park MK3 £291,274 Milton Keynes £266,569 9%
Tilbury Fort RM18 £293,450 Thurrock £272,849 8%
Wilton House SP2 £295,299 Wiltshire £279,809 6%
Overall Military Locations £618,225 Great Britain £242,041 155%
Sources PropertyData

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