Allure of the lakes
The Lake District’s new status is another feather in its cap
ThrEE cheers for the Lake District, the latest UK region to be named a UnESCo World heritage site.
This 912- square-mile mountainous stretch of north-west England joins the Jurassic Coast, hadrian’s Wall and Bath, which all have the same designation. now buyers and sellers are wondering whether house values will rise in response.
‘I’ve already heard of one vendor wishing to increase the asking price on his property on the back of this,’ says matt Dixon, of Fine & Country estate agency, though he is sceptical as to whether its new fame will significantly change prices.
Dixon says 60 per cent of buyers in the Lake District so far this year are British — usually from the South of England — wanting second homes. he says sales have been strong this summer despite fewer homes than usual coming to the market.
At the moment, the area is generally inexpensive. Zoopla says the average price of a home bought over the past year is £233,542 and values have risen only 0.6 per cent since last summer, but those modest figures mask high- priced hotspots. Any property with a view of a lake, especially 11-mile-long Windermere, carries a premium.
And now there is international interest. Estate agency Savills reports buyers from the U. S., Africa and Asia so far this year, and expects this trend to escalate. There are five top hotspots:
AMBLESIDE
IT’S often as crowded as Central London, but that’s because of the tourists. There are just 4,000 permanent residents in this pretty town. Even so, facilities are fantastic, with restaurants, bars, cafes, hotels and two cinemas.
There are some large Victorian villas, but most homes are terraces. Average prices are £385,000.
CARTMEL
A 12Th-CEnTUry church and streets packed with period properties make Cartmel popular and house prices are picking up, thanks to the village’s new foodie reputation.
It’s become known as the birthplace of sticky toffee pudding and has one of the country’s top restaurants, L’Enclume.
The average price paid for a home here in the past year was £370,000.
CONISTON
ArThUr rAnSomE chose this location for much of Swallows And Amazons, while Donald Campbell used the lake for his fateful water speed record attempt. The village has about 1,000 permanent residents and a typical home is about £310,000.
GRASMERE
‘THE loveliest spot that man hath ever found’ is how Wordsworth described this village — he lived there for 14 years. many houses are large and set into the hills. It’s especially popular with retirees and second homers, but they pay for the privilege — the average price is £750,000.
WINDERMERE
mAny houses overlook the lake and have gardens large enough for owners to enjoy privacy despite the crowds. The finest homes are £ 1 million upwards, especially on the eastern side of the lake with best access to the m6.
For most buyers, the average price is £400,000 — much more with a water view. So far, so tempting, but there are some downsides. There are significant planning restrictions, meaning consent for extensions can be hard to gain.
Then there’s the weather, the hamlet of Borrowdale is one of England’s wettest locations. The area is also hard to reach with Ambleside, for example, a fivehour drive from London. Though that is not putting off weekly commuters.
‘People make a lifestyle change and split time between Cumbria and a workplace in a regional city, ’ says Savills’ mark holden.
This means there’s growing demand even for remote properties. For the rest of us, the most popular locations remain the homes made from distinctive grey stone in the towns and villages that make up the Lake District.