Housing in the Exmoor National Park

The Cost of Buying a Property

The results of the Exmoor National Park Authority's eighth annual Exmoor House Price Survey in 2006 has reveaedl that the average house price on Exmoor has increased, although the rate of growth is continuing to slow. This trend is parallel to house prices both nationally and regionally. The median average asking price of a house on Exmoor now stands at £295,000 compared to £285,000 last year, an increase of 4%. The UK as a whole has seen a 5% increase in the average price of a house and the South West 4% over the last year suggesting a possible 'cooling' down of the property market.

Using the same method the (mean) average house price on Exmoor is £356,379. This figure is 82% higher then an average house in the South West and 93% higher than an average house in the U.K. as a whole. Although, house prices on Exmoor have only increased by a small rate, the majority of houses are still out of reach of local residents. The average household income on Exmoor is £24,000, based on these figures an average household would have to raise 15 times their income to be able to afford an average house on Exmoor. Even for a smaller property, an average household would have to raise 11 times their income for an average (median) two bedroom house.

Last year the Exmoor National Park Local Plan containing new innovative housing policies was adopted and is already helping to address the problem of the gulf between the cost of a house and the average income levels within the National Park. The new policies state that all 'new build' housing or conversions within Exmoor should be for local people in housing need. Several planning applications meeting this criteria have already been approved.

The newly adopted local need affordable housing polices are aimed at those in housing need who are unable to afford existing housing in the National Park and who qualify under a definition in the Local Plan as a local resident or are locally employed - more information www.exmoor-nationalpark.gov.uk

Contributed by: Jerry Haddon