It pays to live near Glastonbury or Glyndebourne
HOMEOWNERS in festival towns have seen windfalls of up to and above £200,000 since 2010. Research by Jackson-stops & Staff, using Rightmove data, shows that, far from putting off buyers, these events have driven property prices in surrounding areas higher than the counties as a whole.
Pilton in Somerset, home of Glastonbury (above), has seen a 24% price growth since 2010, equivalent to £101,510; Henley-on-thames homeowners enjoy the boat festival and a price growth of £232,080 over seven years; and homes in Glyndebourne have seen a £196,470 increase.
‘The investment festival-goers bring to an area contributes to improved infrastructure and amenities, which all help add to the value of local homes,’ says Nick Leeming, Jackson-stops & Staff chairman. ‘Whether they’re musical or literary, food- or action-based, festivals draw in huge crowds and are often an opportune time for would-be-sellers to capitalise on the associated hype.’