Living next door to the best takeout in town sounds ideal for Saturday night takeaways. But could living near a takeaway devalue your home?
According to new research house prices are as much as 75 per cent higher in areas with a lower density of takeaways, compared to areas with a larger number.
Property experts GetAgent looked at the total number of takeaways in local authorities across England, and the density based on the number for every 100,000 people living there.
Analysing the average house price across these areas, at certain takeaway thresholds they discovered how much it can devalue your house.
The research reveals properties in the highest threshold, areas with over 100 takeaways, the average price sits at a lukewarm £216,606.
The average price then climbs up 23 per cent to an average property price of £266,818 as the number of takeaways per 100,000 people dropped to between 80 and 100.
In areas where there was an even lower density of takeaways, of between 60 and 80, the average price of a property increased a further 25 per cent to £332,389.
In this lowest threshold property prices averaged at £378,855, 75 per cent more than in the sample of areas home to the highest number of takeaways.
‘As a nation, we love a takeaway, but it seems as though a high number of takeaways results in a lower price secured for your property,’ explains Colby Short, Founder and CEO of GetAgent.
‘There are, of course, two ways of looking at this. A high number of fast-food outlets is denting the price you might be able to secure for your home. Or, you can get on the ladder for a lot less money in areas where you’re surrounded by your favourite takeaway options. So there is a silver lining for some.’
Colby goes on to assure potential buyers,’fear not, while takeaways do attract late-night crowds you’re unlikely to see your personal property purchase directly impacted unless you live right next door.’
‘This difference in price will be down to much wider influences from the area as a whole, as well as geographical factors.
In fact, if you live nearby to a particularly good take away, you can even flip it on its head and use it as a selling point for potential buyers.’
How much is the convenience of fast food really costing you?