The period between 1714 and 1830-1837 marked the Georgian era, renowned for its distinctive architectural style that has captivated homeowners for centuries. Even today, the allure of Georgian properties is undeniable, with many buyers willing to pay considerable premiums for the privilege of owning one. Verona Frankish, CEO of Yopa, confirms this trend, noting that these properties continue to attract buyers with their unique charm.
Georgian homes are synonymous with elegance and balance. They typically feature large windows that bathe interiors in natural light, high ceilings that create a sense of spaciousness, and classic wooden or marble floors. The presence of traditional fireplaces not only adds a touch of cosiness but also harks back to a bygone era, appealing to those who appreciate historical character.
Furthermore, these properties are often seen as a solid investment because they retain their value better than some contemporary homes, which may fall out of favor as architectural trends change. However, potential owners should be mindful that maintaining these historic houses can be an expensive endeavor, and the likelihood of these properties being listed can make renovations more complex and costly.
Affordability and Availability: A Regional Perspective
While Georgian homes’ appeal is universal, their availability and relative affordability vary significantly across regions.
The Attraction of the South West
For those intent on buying a Georgian property, the South West emerges as an attractive option. Here, Georgian homes command a premium of 31.6% over similar-sized properties, with the average home valued at £653,000, compared to £496,000 for other homes. Despite this markup, the South West offers the most competitive prices for Georgian homes and boasts the highest number of listings, contributing 46% of all Georgian properties on the market.
Scarcity in the North
Contrastingly, the North East and Yorkshire and the Humber regions witness some of the highest premiums—47.2% and 45.2% respectively—owing primarily to the scarcity of these properties. The average Georgian home in the North East sells for £678,000, a significant leap from £461,000 for other properties. Similarly, in Yorkshire and the Humber, buyers can expect to pay around £632,000 for a Georgian style home, compared to £435,000 for other homes.
The limited supply undoubtedly fuels these high premiums. Georgian properties make up only 1% of all period homes in the North East and 4% in Yorkshire and the Humber. This rarity creates intense competition among buyers, driving prices upwards.
The CEO’s Insight
Verona Frankish, CEO of Yopa, highlights the continuous attraction buyers have towards Georgian properties, owing to their intricate decorative details, cozy fireplaces, and airy high ceilings. She points out the stark contrast in supply between the north and south, with Georgian homes being an extreme rarity in the North East, likening the find to “seeking a unicorn.” Conversely, for those looking southward, the South West, East of England, and South East offer ample opportunities to acquire these coveted period properties.