Forget the obvious ways to get the lowdown on current housing hotspots.
In the past, these have included studying price indices, watching Phil Spencer and Kirstie Allsopp TV shows, or scouring school league tables. But now, there's a new — and tastier — way: checking The Good Food Guide.
A flurry of gourmet restaurants opening in a certain area can tip off canny home buyers about up-and-coming locations, according to experts.
Tuck in: The Berkshire village of Bray is home to Heston Blumenthal's Fat Duck
‘I've seen a strong link between house prices and a thriving food-centred community,' says editor of the Waitrose & Partners Good Food Guide, Elizabeth Carter.
‘You only have to look at areas such as Bristol or Margate, in Kent, to see a rise in the interest of properties plus the emergence of a vibrant, thriving food scene,'
Areas off the beaten track or ‘secondary' to a more expensive nearby spot are often popular with restaurateurs, because they cost less and therefore reduce the risk if the business does go under.
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Share ‘As new restaurants open in upcoming areas, and prove successful, it encourages others to open in neighbourhoods that may previously have been unthinkable as trendy or desirable, with the housing market automatically following suit,' says Ms Carter, whose 2020 Good Food Guide will go on sale in September.
Thirty years ago, Padstow, selena gomez transplante in north Cornwall, was an unassuming port reliant almost entirely on fishing for its income. It is now regarded as the West Country's foodie capital, with ten top restaurants in this tiny town of 3,000 permanent residents — including two run by BBC Saturday Kitchen regular Paul Ainsworth, four by the legendary Rick Stein, and a new hot destination called Prawn On The Lawn.
Chef Tom Kerridge, who runs The Hand & Flowers in Marlow
‘Padstow only hit the giddy heights of £1million-plus houses after Rick Stein became famous,' says Clare Coode, of Stacks Property Search.
‘If you're buying a house — particularly as a rental investment — and there's a Rick Stein nearby, that makes it attractive and a good indicator of the demographic of visitors to the area.
‘Established expensive restaurants indicate a wealthy clientele, which brings in smart shops and delis. There is no doubt it increases the value of your house.'
Culinary enclaves such as Bray in Berkshire and Marlow in Buckinghamshire, both on the River Thames, are unlikely to have gained their stellar house prices had it not been for celebrity chefs such as Heston Blumenthal, Michel Roux and Tom Kerridge running pubs and restaurants there.
So, where are the next Padstows? Firstly, there's Yorkshire. The latest Good Food Guide features 11 entries in Leeds and ten in York, and there are also four in Sheffield and another dozen in the county's countryside and market towns such as Follifoot, Hetton, Malton and Osmotherley.
‘We often find those who visit for a long weekend fall in love with these restaurants and the charming setting, and then come to us looking for a home from where they can enjoy this lifestyle every weekend,' says Nick Talbot, director of the York branch of estate agents Jackson-Stops.
Margate has six Good Food Guide entries and nearby Whitstable has five, several specialising in seafood. Kent house prices are currently regarded by property experts as good value — the average is £334,570, according to property site Zoopla, still lower than most areas near London.
But there is one word of caution. While a home near great restaurants will benefit from increased status, the opposite might be true for a house right next door.
‘Cooking smells, extractor fans and constant deliveries put many off and, although most of us are happy to fall out of a restaurant at closing time, with laughter and farewells, it's not so good for those in bed nearby,' says Clare Coode.
Buy in the right spot at the right time, however, and you can benefit from the glory of a successful restaurant.
And if by chance the property prices don't rise like a souffle, at least you can always console yourself with good food on your doorstep.
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Posh restaurants are tasty indicators to house prices
Liliana Trenerry (2019-06-30)
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In the past, these have included studying price indices, watching Phil Spencer and Kirstie Allsopp TV shows, or scouring school league tables. But now, there's a new — and tastier — way: checking The Good Food Guide.
A flurry of gourmet restaurants opening in a certain area can tip off canny home buyers about up-and-coming locations, according to experts.
Tuck in: The Berkshire village of Bray is home to Heston Blumenthal's Fat Duck
‘I've seen a strong link between house prices and a thriving food-centred community,' says editor of the Waitrose & Partners Good Food Guide, Elizabeth Carter.
‘You only have to look at areas such as Bristol or Margate, in Kent, to see a rise in the interest of properties plus the emergence of a vibrant, thriving food scene,'
Areas off the beaten track or ‘secondary' to a more expensive nearby spot are often popular with restaurateurs, because they cost less and therefore reduce the risk if the business does go under.
RELATED ARTICLES
Previous
1
Next
Victory for future homeowners as developers are banned from... How much do you need to earn to get on the property ladder?... Sell your home for nothing! Online estate agent drops all... We signed a contract to rent a flat and paid a deposit but...
Share this article
Share ‘As new restaurants open in upcoming areas, and prove successful, it encourages others to open in neighbourhoods that may previously have been unthinkable as trendy or desirable, with the housing market automatically following suit,' says Ms Carter, whose 2020 Good Food Guide will go on sale in September.
Thirty years ago, Padstow, selena gomez transplante in north Cornwall, was an unassuming port reliant almost entirely on fishing for its income. It is now regarded as the West Country's foodie capital, with ten top restaurants in this tiny town of 3,000 permanent residents — including two run by BBC Saturday Kitchen regular Paul Ainsworth, four by the legendary Rick Stein, and a new hot destination called Prawn On The Lawn.
Chef Tom Kerridge, who runs The Hand & Flowers in Marlow
‘Padstow only hit the giddy heights of £1million-plus houses after Rick Stein became famous,' says Clare Coode, of Stacks Property Search.
‘If you're buying a house — particularly as a rental investment — and there's a Rick Stein nearby, that makes it attractive and a good indicator of the demographic of visitors to the area.
‘Established expensive restaurants indicate a wealthy clientele, which brings in smart shops and delis. There is no doubt it increases the value of your house.'
Culinary enclaves such as Bray in Berkshire and Marlow in Buckinghamshire, both on the River Thames, are unlikely to have gained their stellar house prices had it not been for celebrity chefs such as Heston Blumenthal, Michel Roux and Tom Kerridge running pubs and restaurants there.
So, where are the next Padstows? Firstly, there's Yorkshire. The latest Good Food Guide features 11 entries in Leeds and ten in York, and there are also four in Sheffield and another dozen in the county's countryside and market towns such as Follifoot, Hetton, Malton and Osmotherley.
‘We often find those who visit for a long weekend fall in love with these restaurants and the charming setting, and then come to us looking for a home from where they can enjoy this lifestyle every weekend,' says Nick Talbot, director of the York branch of estate agents Jackson-Stops.
Margate has six Good Food Guide entries and nearby Whitstable has five, several specialising in seafood. Kent house prices are currently regarded by property experts as good value — the average is £334,570, according to property site Zoopla, still lower than most areas near London.
But there is one word of caution. While a home near great restaurants will benefit from increased status, the opposite might be true for a house right next door.
‘Cooking smells, extractor fans and constant deliveries put many off and, although most of us are happy to fall out of a restaurant at closing time, with laughter and farewells, it's not so good for those in bed nearby,' says Clare Coode.
Buy in the right spot at the right time, however, and you can benefit from the glory of a successful restaurant.
And if by chance the property prices don't rise like a souffle, at least you can always console yourself with good food on your doorstep.
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