The cost of homes next door to Buckingham Palace and other royal residences

Friday, 12th June 2020, 12:57 pm
Updated Friday, 12th June 2020, 12:57 pm

Having the Queen - or any member of the royal family - as a neighbour comes at a price.

In fact, the cost of buying next to a royal home comes in at an average of £765,556, that’s 31 per cent or £582,647 more than the wider areas they are located in.

Keeping up with Windsors means deep pockets.

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Kensington Palace and nearby Ivy Cottage and Wren House, all of which are located on the Kensington Palace estate in the W8 postcode, are home to an average house price of just over £1.9 million.

Not only are they the most expensive of all royal residences, they come in 37 per cent more than the wider area of Kensington and Chelsea.

Buckingham Palace and neighbouring Clarence House and St James’s Palace are the next priciest royal pads on the list with the SW1 postcode home to an average price of £1,556,988; 43 per cent more than the wider area.

At more than £1 million, Thatched House Lodge in Richmond’s TW10 postcode ranks as the next most expensive - £783,199 - while living near Windsor Castle’s Frogmore Cottage, former home of The Sussexes. and the Royal Lodge in the SL4 postcode, will set you back £560,740.

The biggest royal house price premium when compared to the wider area is Carmarthenshire where house prices in the SA20 postcode, where Llwynywermod is located, go for £252,440.

That’s 75 per cent more expensive than the wider area of Carmarthenshire.

But there are a few royal homes located in areas with a more affordable price tag when compared to the wider local authority.

Balmoral Castle and neighbouring Craigowan Lodge and Birkhall are all located in the AB35 postcode, home to an average house price of £165,052, -8 per cent more affordable than the wider average for Aberdeenshire.

Buying near the Palace of Holyroodhouse in the EH8 postcode will also secure you a royal deal, with an average house price of £216,107, -20 per cent cheaper than Edinburgh as a whole.

The research was carried out by GetAgent.co.uk site.