Living in an area with better Deliveroo options could add tens of thousands to the value of your home
Could you benefit from the 'Deliveroo-effect'?
Deliveroo and other food delivery apps have revolutionized the way we eat. Food delivery services also made lockdown more bearable for those who have access to the apps. Now it turns out that living in a Deliveroo hotspot adds value to your home – to the tune of tens of thousands.
While seeking quality property advice is essential for selling your home at a good price, brand-new research by property portal Boomin has found that living in an area with a wide choice of restaurants and takeaway options is very important to buyers. Mind, not all restaurant types have an equally boosting effect on house prices.
The restaurant that adds the most value to your home
Good old Wagamama! Having this family-friendly chain restaurant close to where you live was shown to add as much as £30,887 to a house value. However, if you really want to maximize the 'Deliveroo effect' when selling your house, you want to be as close as possible to as many upmarket burger chains as possible.
Living close to a Byron Burger will add £33,132 to your house value, while the reliable favourite Gourmet Burger Kitchen will comfortably increase your house price by £27,274. The Caribbean chain Turtle Bay was also found to be highly desirable, adding over £31,000 to the value of a house.
Good-quality, affordable chain restaurants lead the way where it comes to having this house price boosting effect. Fried chicken joints? Less so. Living next to a KFC will add less than half the amount of value a Wagamama will, at around £13,000. A Roosters Piri Piri will add around £15,000. It seems that there's a combination of people favouring healthier food options and a desire to live to more upmarket restaurants.
'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,' says Michael Bruce, CEO and Founder of Boomin.
'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.'
Get the Ideal Home Newsletter
Sign up to our newsletter for style and decor inspiration, house makeovers, project advice and more.
Michael emphasises that this trend of buyers favouring more eating out choices is set to grow. 'What was surprising 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 homeowners living in areas with more variety. As we become more reliant on speedy deliveries and having a whole host of choices at our fingertips, I can only see this value rising further in the future.'
Anna Cottrell is Consumer Editor across Future's home brands. She moved to the world of interiors from academic research in the field of English Literature and photography. She is the author of London Writing of the 1930s and has a passion for contemporary home decor and gardening.
-
Do your bedside lamps need to match? Design experts agree on this approach for a calming scheme
Looking to switch up your bedside lamps but not sure whether to go matchy-matchy or mix things up a bit?
By Holly Walsh
-
This 59p product drastically reduced the condensation on my windows - and you probably have it in your cupboards already
You probably already have this everyday essential in your cupboards, but I bet you didn’t know that it’s a natural dehumidifier
By Lauren Bradbury
-
Can heated airers cause damp? Experts explain this common problem and how to combat it
Find out how to quickly dry your clothes this winter while keeping your home mould-free
By Eilidh Williams