Conservation is good news for Portsmouth property prices

Mutiny Festival brought over �2m to the local economy Picture: Paul Windsor

Mutiny Festival brings £2.7m into Portsmouth economy

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HOMES in Portsmouth’s conservation areas are worth more than similar houses in other parts of the city, a study has revealed.

Around 20 per cent of Portsmouth is designated a conservation area, mainly in the Old Portsmouth, Southsea, Gunwharf and Hilsea Lines areas.

Now, the first large-scale analysis of house prices in conservation areas, conducted by English Heritage, says homes in those areas are worth more and rise in value quicker than elsewhere in Portsmouth.

The city’s average house price outside conservation areas is estimated to be £200,282, which rises by 0.14 per cent to £200,569 inside conservation areas.

It is a small increase, mapped from housing prices between 1995 and 2010.

Dr Gabriel Ahlfeldt, who led the research, said: ‘It shows that preserving the best of the past, which is what conservation areas are meant to do, can be in the interest of the owners.’