The surprising impact your local coffee shop could be having on your house price

Whether you enjoy picking up a filter coffee at Pret or a latte at Costa, your local coffee shop can not just say a lot about you, but your house price too.

Related: House prices see the largest drop since 2009 reveals Nationwide

You might have heard about the Waitrose-effect, where houses near the upmarket supermarket were found to attract a premium price. Well, the Tea & Coffee company have uncovered a correlation between house prices and the density of coffee shop chains. We’ve christened it the Starbucks-effect.

The Starbucks-effect

Image credit: Polly Eltes

The study analysed 392 locations and found that houses near the area with a high density of Starbucks were found to have the highest house prices. The highest density of Starbucks was found in Westminister, where the average house price is £792,000.

The highest density of Pret A Manger was found in the second most expensive location, Uttlesford. An average house here will usually set you back around £420,000.

starbucks effect 1

Image credit: Barcroft Media / Contributor/ Getty

Costa and Greggs came in joint third place, as the best coffee shops to keep your eye out for when looking for a bargain on a house. The highest population of Costa coffee shops was found in Crawley, where the average house price is £295,000.

Bridgend had the highest density of Greggs, with local housing being far more affordable. The average house price for a house in Bridgend will set you back just £152,000.

Starbucks-effect 2

Image credit: Christopher Furlong / Staff / Getty

Overall, Pret a Manger was found to be the most popular coffee shop in London. With an average per capita density of 13.2. Starbucks had only half that number at 6.7, suggesting a Starbucks premium if you manage to find a home with the popular chain as your local coffee joint.

Pret A Manger was found to dominate the south of the UK, the area with traditionally higher house prices. While in the North of the UK, there is a greater density of Greggs where house prices range from £94,000 to near £140,000.

Related: Best pod coffee machines – the top capsule espresso makers for your caffeine fix

What is your local coffee shop?

The post The surprising impact your local coffee shop could be having on your house price appeared first on Ideal Home.



from https://www.idealhome.co.uk/news/starbucks-effect-house-prices-255769
via https://nhabepvip1571515.blogspot.com

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