Could a Local Pub Boost Your Property Price?
1st November 2017
When buying a property and determining it's value you might take into account the local schools, the amenities in the area or the commute to work.
Something you may not immediately include could be just as crucial to the value of a property - a local pub. In this article we'll take a look to see whether Britain's best pubs can affect the surrounding property prices. Will the presence of award-winning public house have any impact? Starting at number 5 according to -The Good Pub Guide we're going to investigate to see if indeed posh pints mean pricey properties. 5. Olive Branch - Clipsham, Leicestershire This traditional village pub opened its doors in 1997 and boasts a string of awards. Expect open log fires to keep you warm in the winter and homemade freshly squeezed lemonade in the summer. The rotating selection of local and international beer offers you plenty of choice to wet your whistle. But can you afford to stumble home from this lovely local? The cost of the average home in Clipsham towers over other local villages by around double the price. According to Rightmove a house in the village of Clipsham on average costs £677,500 compared to nearby Pickworth (£260,000), Stretton (£286,944) and Greetham (£247,053). Maybe it's a taxi home from the Olive Branch? 4. Wykeham Arms - Winchester, Hampshire A hidden gem dating back to 1755, the Wykeham Arms, is located in the old town of Winchester. The walls are cluttered with interesting collections and the tables circa 19th century are taken from the local college. Behind the bar they offer over 25 wines by the glass and several real ales. Do you fancy propping up the bar? A 3-bed terraced house in the city Winchester would set you back around £610,000 according to Rightmove, over double the price of the counties average - expensive. But maybe it's worth it to live in the historic city just 60 miles from London and to drink at one of the best pubs in Britain. 3. Pandora Inn - Mylor Bridge, Falmouth, Cornwall Situated right next to water this 13th century medieval pub is quintessentially English. You can sit outside on the floating jetty while sipping on some local scrumpy. On the inside the decor is dominated by a nautical theme with three large log fires. So what would it cost to live within walking distance? Between Mylor Bridge and Falmouth it is just a 13-minute drive. According the figures from August 2017 a three bed detached house in Mylor bridge would set you back a whopping £635,000 compared to Falmouth's average of £307,500. That's over double the price. Paying a premium for an old pub in an idyllic location might mean you are left short of a tip. 2. The Cock - Hemingford Grey, Huntingdon, Cambridgeshire Runner-up - The Cock - sits next to the Great Ouse river in the quiet village of Hemingford Grey. Not only is it known for its idyllic setting and local real ales (all brewed within a one hour drive) but it also serves award-winning English and European food. If you want to indulge in a glass of wine and award-winning food regularly, how much more would you be willing to pay? The Cock is the first pub on our list to be situated in a village where properties value is under the county average. A 3-bed home in Hemingford Grey in July 2017 would have cost you £380,000 compared to Cambridgeshire's average of £388,597. With a saving of £8,597 that's enough for 358 bottles of The Cock's house red (priced at £24). 1. Kings Head - Bledington, Chipping Norton, Gloucestershire This 16th-century inn and former cider house describes itself as -An idyllic Cotswolds pub, gloriously situated on a picturesque village green. Packed with lively locals the inside is -atmospheric and the walls host various local sporting memorabilia. To join the locals at Britain's best pub, a 3-bedroom detached house in Bledington would set you back £785,000 (April 2017) the equivalent of about 224,285 pints. The Oxfordshire average is only £567,956 in comparison. So would you be willing to pay top prices for one of Britain's best locals? Or is it a taxi ride home? For more information on Britain's top pubs you can view the full list from the Good Pub Guide here. If you would like any advice on mortgage solutions please call Ethos Financial Solutions on 01302 244 977. This information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case. Ethos Financial Solutions Ltd are authorised and regulated by the Financial Conduct Authority.