Living in an area with a large variety of restaurant and takeaway options can add an average of £36,000 to your home’s value, research from property portal Boomin finds.
Researchers reviewed house price increases across the nation and their correlation to the number of restaurant options each postcode had nearby. The study says that those with approximately 100 different options on the popular takeaway app can expect their home’s value to be boosted by more than £35,000.
With takeaway apps having become more important throughout the pandemic, the study looked at house price values in areas near specific food brands. Some of these brands have been found to add more value than others, such as Papa John’s, at an average of £11,355. Meanwhile, a postcode within delivery range of a KFC could bring an additional £13,008 of value.
Nearby restaurants were also found to make a substantial difference. Homes nearby a Gourmet Burger Kitchen apparently cost on average an additional £27,274. Home close to a Wagamama have an average value increase of £30,887.
Of all the brands included in the research, homes near a Byron Burger have the biggest average increase at £33,132.
The food brands that add the most value to your home
|Brand||Average Value Increase (based on whether delivery is available to a postcode)|
|1. Byron Burger||£33,132|
|2. Turtle Bay||£31,417|
|4. Gourmet Burger Kitchen||£27,274|
|7. Franco Manca||£21,326|
|8. Bella Italia||£17,637|
|9. Roosters Piri Piri||£15,308|
Michael Bruce, CEO and Founder of Boomin, commented: “Within just the last 5 years, what buyers are looking for in a home has changed drastically. Choice seems to be leading the way, with owners wanting more things to do, to see and evidentially, to put on their plates.
“Living in a location with good restaurants adds to the general ‘feel’ of an area, so much like certain supermarkets adding value to a home, it’s no surprise that particular restaurant brands have the same power to influence prices too. What was surprising however, was just how much an effect Deliveroo and having a good amount of choice on the app has changed things. Deliveries were essential during the pandemic, and the knock-on effect has been beneficial for home owners living in areas with more variety. As we become more reliant on speedy deliveries and having a whole host of choice at our fingertips, I can only see this value rising further in the future.”