New research by Zoopla has found that properties located close to a popular farmers market could be worth up to 26% more than the average home in the same county.
It appears that living in close proximity to a weekly supply of organic vegetables and artisan bread can come at a price, with properties near some of Britain’s most popular farmers markets valued at £87,180 more on average than those in the wider county area.
London’s prestigious Marylebone tops the table for the biggest price difference, with properties located a stone’s throw from Marylebone Farmers Market (W11) valued on average at 201% (£1,319,571) more than the average Greater London home, which is currently worth £656,223. Housing stock near Altrincham Market (WA14) in Greater Manchester comes in second, where the average property is 148% (£274,928) higher than the rest of the county of Greater Manchester.
The research also found that Midlothian in Scotland is a particular hotspot for the ‘farmers market effect’, with three of the county’s most popular farmers markets featuring in the top ten for the biggest price differences. Morningside Farmers Market (EH10), Stockbridge Market (EH3) and Edinburgh Farmers Market (EH1) place fourth, fifth and ninth, with properties neighbouring the markets valued at 124%, 98% and 48% more than the Midlothian county average (£192,914) respectively.
“Whilst the majority of home movers do not specifically factor in proximity to a farmers market as core to their property search criteria, the data shows the positive impact living near one can have on property prices,” commented Lawrence Hall, spokesperson for Zoopla.
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