Freshwater house prices growing at twice the rate

New data analysis from Yopa, the full-service estate agents, reveals that house prices near lakes, lochs, and reservoirs are growing at more than double the rate of the wider UK average.

Yopa has analysed the annual house price change (May 2023 - May 2024 - latest available) for properties located within arm's reach of 38 of the UK's major lakes, lochs, and reservoirs* to see how fresh water property performance compares to that of the wider UK market.

Between May 2023 and May 2024, the average UK house price grew from £278,941 to £285,201 - an annual increase of 2.2%.

Yopa's analysis reveals that homes located next to lakes, lochs, and reservoirs have wildly outperformed this national performance with an average growth rate of 5.5% - more than double that of the general UK market. The average lakeside property has seen its value rise from £213,384 to £224,134.

The biggest waterside price growth has been recorded in Wales where the value of homes located next to Llyn Cowlyd have grown by a stunning 13.1% over the past 12 months to reach a current average price of £206,764.

By Scotland's Loch Shin, prices have grown by 12.9% to hit an average of £182,331, and prices next to Scotland's Loch Awe have increased by 11%.

The remainder of the top ten lakes, lochs, and reservoirs to have seen the highest annual price growth is a list dominated by locations in Wales.

Llyn Brenig has seen a price increase of 10.7%, followed by England's Coniston Water (10.5%), Lake Vyrnwy (9.6%), Llangorse Lake (9.5%), Clywedog (9.5%), England's Derwentwater (7.9%), and Llyn Cwellyn (7.9%).

Despite the strong price boost that comes with living lakeside, three of the 38 lakes, lochs, and reservoirs studied by Yopa have actually seen prices fall in the past year.

They are Llyn Celyn (-2.8%) and Llyn Tegid (-2.8%), both in Wales, followed by Derwent Reservoir in England (-2.7%).

Yopa's National Franchise Director, Steve Anderson, commented:

"It's well documented that coastal property markets tend to largely outperform the rest of the nation due to the allure of living by the sea, coupled with a finite level of available housing stock.

However, it seems as though our desire for a waterfront property isn't limited to the seaside, with homes close to lakes, lochs and reservoirs also benefiting from a far higher level of house price growth.

The good news is that the average house price for a lakeside property is considerably lower than that of the wider UK benchmark, meaning that homeowners who are happy with a potentially more rural location can benefit from greater affordability, stronger house price growth and beautiful surroundings."