Err, no

The global fascination with the Royal Family makes them one of Britain’s biggest tourist attractions, bringing in hundreds of millions of pounds to the economy each year.

The same appeal means buyers, particularly foreign investors, are willing to pay a regal premium for properties close to royal residences. In some locations a royal postcode can increase the value of a home by more than half.

The average price of postcodes closest to Clarence House, the London residence of the Prince of Wales and Duchess of Cornwall, sits at just under £2.4m.

This proximity to the royal neighbours adds a premium of 63pc when compared to the average asking price of almost £1.5m in the borough of Westminster, where Clarence House is located.

Palaces tend to be n nice areas. Even, the presence of a palace has led to development, over the years, as a nice lace. Even possibly, folks choose nice areas to build palaces in.

Houses in nice places are worth more. Surprise!

10 thoughts on “Err, no”

  1. True. The palace could lead to greater efforts that make the area nicer. Or the palace could just be built in a nice area.

    I suppose one thing one could expect is that the area wouldn’t be allowed to go down hill. But perhaps someone can shoot me down in flames on that one!!

  2. Perhaps we could test the hypothesis and have the Royals build a few minor palaces in some of our grimmer Northern towns and see if there is any gentrifying as a result….

  3. It explains the astronomical cost of housing in the Grampians and Norfolk. Or does the magic not work if the house is owned by the Windsors rather than the nation?

  4. Come to think of it Holyrood is in what was one of the poorer parts of central Edinburgh. The carriage trade had all departed when the New Town was built.

  5. The same appeal means buyers… are willing to pay a regal premium for properties close to royal residences.

    How has the Malibu real estate market moved over the last year or so?

  6. The presidential oalace in Caracas is in a well dangerous part of town.

    Well, I guess everywhere in Caracas is dangerous these days…

  7. The environs of Frogmore Cottage¹ are strangely more desirable now than a couple of years ago.
    ___________
    1) Cottage in the sense of a dwelling with ten bedrooms.

  8. I was just about to say the same thing, dearime. Holyroodhouse used to be across the road from a brewery and a public toilet. But the area’s gone down in the world of late.

  9. I guess historically courtiers and other hangers-on would build near the King’s palaces to stay in close contact for favour, or keeping the enemy closer. Hence an upmarket enclave around the palace developing.

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