Top TV programmes can add up to £32,000 more onto property valuesApril 4, 2017
- House prices in key filming locations spike within 12 months of programme airing, new research supports
- Broadchurch, Poldark and Downton Abbey come top for location boosts
- ‘Period dramas’ lead to greater increases, whilst gritty and hard-hitting shows can lead to price drops
Popular television programmes can add up to 6% more onto the value of properties in the areas in which they are filmed, compared to the national average, according to research by My Home Move, the UK’s leading provider of mover conveyancing services.
Shows such as Broadchurch, Poldark and Downton Abbey, known for their typically high budgets and scenic settings, added between 1.2% and 6.6% (up to £32,000) more to the value of properties in the areas in which they were filmed, within 12 months of their most popular seasons airing, compared to the national average for the same time period.
Commenting on the findings, Doug Crawford, CEO of My Home Move, said,
“Television is a powerful medium that can capture the imagination. As a nation, we aspire to own our own homes and buy a slice of our dreams, so naturally areas that we regularly see on our screens have become increasingly popular with home buyers.
“What is particularly interesting in the findings is the correlation between period dramas and the locations they are filmed in. Poldark and Downton Abbey have had the biggest impact on house prices in their filming locations, which indicates that a touch of nostalgia may be what home buyers are looking for. Once again, it’s location that tops the buyer’s wish-list.”
Although most locations in the study showed an upwards trend in house prices compared to the national average, Northumberland, the location of ITV’s crime drama Vera, was the exception. It saw a 4.3% decrease in property values following its most viewed season in 2016.
Continuing, Doug Crawford said, “The ‘gritty’ and dark look and feel of Vera could be the contributing factor to the price decrease. Vera offers a ‘winter-esque’ impresson of the area, which isn’t every buyer’s dream.
“The research seems to suggest that the way sellers can maximise the price of their properties is by taking a leaf out of the book of a show like Downton Abbey – make your home and its setting look as stunning as possible and you’ll be selling ‘the dream’ to potential buyers.”