Study reveals which coffee shop chain increases house prices in Sussex
A new study by company Tea & Coffee reveals that living near a Starbucks can increase the price of your home.
The study found that in the UK house prices are in fact influenced by the density of coffee houses located in the area. Areas of higher house prices will tend to see more Starbucks and Pret a Manger chains. With areas of lower house prices seeing more Greggs and Muffin Break chains.
Out of all the Sussex areas included in the dataset (Brighton and Hove, Crawley, Worthing and Hastings) it found that the area with the highest house prices has the lowest density of Costa chains in Sussex.
Brighton and Hove has an average house price of £357,000 and a density of 2.75 Costas per 100,000 people - way below the national average of 3.45 per 100,000 people.
Another potential factor influencing the house prices in Brighton and Hove is its high density of independent coffee shops with over 13 stores per 100,000 people significantly higher than Sussex counterparts Crawley which has eight stores per 100,000 residents.
Hastings, where the house prices are at the lowest at £220,500, has a higher density of Costa chains and has the lowest Starbucks density in the whole of Sussex, furthermore proving that as the Starbucks density decreases the house average prices will decline alongside.
In Crawley, where Starbucks are the most popular in Sussex (3.56 stores per 100,000 people) - the house prices are way over the national average (£259,000) at an average of £295,000.
The study of 392 locations around the UK reveals that people in Sussex have the best access to Costa and Starbucks chains.
Also revealed in the nationwide study is how house prices can be altered as the density of coffee shop chains changes location by location. Starbucks dominate the areas where house prices are higher in areas such as South Buckinghamshire and Uttlesford. Greggs dominate in the lower house prices areas such as Darlington and some Wales areas.
This is highlighted in the tool created by Tea and Coffee which can be found here.
Coffee shops to look out for when property hunting:
Best coffee shops to live by for higher property prices (based on the most expensive house prices where chains is most dense)
Best coffee shops to live by to bag bargain properties (based on the cheapest house prices where chains is most dense)
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