LIVING next to a stately home sounds great on paper, but does reality live up to expectations?

On the one hand, it might offer views of an impressive looking property, and puts a tourist attraction on your doorstep.

But, on the flipside, it could lead to an influx of tourists to what might otherwise be a quiet residential area.

It is clear that there are two schools of thought here, and according to a new study, living near to a stately home has an impact.

However, it isn’t always a positive impact – as seen in the value of property near to Newport’s Tredegar House.

The research, carried out by, found that while the average property price in the Newport local authority area is £194,037, property in the vicinity of Tredegar House has an average price of £169,500.

It means that neighbours of the 17th century mansion – even if not quite on the doorstep of the National Trust operated house - have property valued 13 per cent less than average property prices in the region.

But, as bad as it might be for those living in the shadow of Tredegar House, neighbours of other stately homes in the UK have it worse.

None more so than homeowners near to Warwick Castle, in Warwick.

While property prices in the Warwickshire town are £326,263 on average, those near the castle see a 26 per cent drop in the average house price, at £242,500.

Other stately homes to avoid living near to include Hatfield House, Osborne House on the Isle of Wight, and St Michael’s Mount in Cornwall.

Is there any upside to living near a stately home?

While the situation could be considered bleak for those looking to sell their homes near to Tredegar House, the situation is much better for the neighbours of other stately homes.

None more so than those living near Kenwood House in Camden.

The average price in the local area is £814,864, while neighbouring property has an average price of £8,650,000.

In total, this represents a staggering increase of 962 per cent.

The top three places for value added is dominated by London, with Apsley House, and Clarence House in the City of Westminster seeing an increase of 421 per cent, and 261 per cent respectively.

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The study used the UK House Price Index to determine the average cost of houses in each local authority.

Property website Zoopla was also used to find houses for sale within a half-mile radius of each stately home (and quarter-mile for London homes).

Only homes which had a minimum of seven property sales in the vicinity were included – to make sure that there was enough data available.

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