Whether you enjoy picking up a filter coffee at Pret or a latte at Costa, your local coffee shop can not just say a lot about you, but your house price too.
You might have heard about the Waitrose-effect, where houses near the upmarket supermarket were found to attract a premium price. Well, the Tea & Coffee company have uncovered a correlation between house prices and the density of coffee shop chains. We’ve christened it the Starbucks-effect.
The study analysed 392 locations and found that houses near the area with a high density of Starbucks were found to have the highest house prices. The highest density of Starbucks was found in Westminister, where the average house price is £792,000.
The highest density of Pret A Manger was found in the second most expensive location, Uttlesford. An average house here will usually set you back around £420,000.
Costa and Greggs came in joint third place, as the best coffee shops to keep your eye out for when looking for a bargain on a house. The highest population of Costa coffee shops was found in Crawley, where the average house price is £295,000.
Bridgend had the highest density of Greggs, with local housing being far more affordable. The average house price for a house in Bridgend will set you back just £152,000.
Overall, Pret a Manger was found to be the most popular coffee shop in London. With an average per capita density of 13.2. Starbucks had only half that number at 6.7, suggesting a Starbucks premium if you manage to find a home with the popular chain as your local coffee joint.
Pret A Manger was found to dominate the south of the UK, the area with traditionally higher house prices. While in the North of the UK, there is a greater density of Greggs where house prices range from £94,000 to near £140,000.
What is your local coffee shop?