The rise in the typical AONB property prices was more than twice the 32% increase in average earnings over the same period.
Home affordability in such locations has consequently deteriorated over the past decade. The average AONB house price is seven times higher than average gross annual earnings, up from a multiple of 4.9 in 2002.
Suren Thiru, housing economist at Lloyds TSB, said: “The value of homes within areas of outstanding natural beauty has risen substantially over the past decade. The relatively high property values in many of these locations reflect the quality of life benefits associated with living in some of our most idyllic beauty spots.
“However the fact that property prices have typically risen considerably faster than average earnings has created significant affordability difficulties for many of those living and working in such locations.”
