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Too many local pubs push down house prices

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COMMENTARY
GUIDE

We give market commentary when journalists or news outlets approach us directly for comment on specific topics. We share our commentary here too. See below.

Our research this week has found that while we love a trip to the pub, too many of them can hurt house prices.

British pubs can lower local house prices

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Back to the pub!

Many of us have enjoyed a return to the pub in recent weeks, despite yet another lockdown extension meaning it still has to be done in a restricted format.

However, we analysed property market data based on the number of pubs in each local authority and found that having too many options for a swift pint on your doorstep could be detrimental to the value of your home.

Pubs and house prices

So what do pubs mean for house prices?

  • In local authorities with an estimated 1 to 150 pubs, property prices averaged £289,479
  • This then fell by -9% to £263,041 in areas with 151 to 300 pubs
  • And further again to £253,808 in areas with 301 to 450 pubs, a drop of -4%.
  • The research shows that in local authorities with 451 or more pubs, the average house price fell by a further -6% to £238,163, an -18% gap between those local authorities with the most and least pubs.

Number of pubs

Average House Price

1 to 150

£289,479

151 to 300

£263,041

301 to 450

£253,808

451 plus

£238,163

So if you’re a big fan of the pub then you could find they make for a more affordable property purchase, but this isn’t always the case.

Which major cities are most affected?

We looked at pub availability and house prices across each major UK city and found that with 4,366, London is home to the most pubs. However, with an average price of £500,310, it’s also the most expensive place to buy a property.

The good news is that Leeds (£212k), Birmingham (£207k), Bradford (£155k), Liverpool (£157k), Glasgow (£150k), Manchester (£211k) and Sheffield all rank within the top 10 for most pubs with between 300 and 600, while also offering a below average house price.

Analysis & Insights

Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented:

“For most, the presence of at least one good pub in the local area can be a sought after social requirement when house hunting. However, it’s understandable that too many pubs might put some homebuyers off due to higher levels of noise pollution, footfall and the other negatives associated with our drinking culture.

It certainly seems to have an impact when it comes to house prices and the volume of public houses in the local vicinity, with areas home to more pubs commanding a lower property price on average.

This may be due to the decline in the popularity of the Great British pub in recent years and so those who are looking to sell having bought back in the public house hay-day might find homebuyer sentiments have changed.

As with any house sale, the initial key to attracting buyers is to price appropriately based on current market conditions. At Yes Homebuyers we love the pub, so we’re always happy to discuss a purchase of a pub adjacent property and see if we can help get your home sold more quickly. At the very least, we can help you ascertain the value of your home and point you in the right direction if a quick sale platform isn’t it.”

"

Back to the pub!

Many of us have enjoyed a return to the pub in recent weeks, despite yet another lockdown extension meaning it still has to be done in a restricted format.

However, we analysed property market data based on the number of pubs in each local authority and found that having too many options for a swift pint on your doorstep could be detrimental to the value of your home.

Pubs and house prices

So what do pubs mean for house prices?

  • In local authorities with an estimated 1 to 150 pubs, property prices averaged £289,479
  • This then fell by -9% to £263,041 in areas with 151 to 300 pubs
  • And further again to £253,808 in areas with 301 to 450 pubs, a drop of -4%.
  • The research shows that in local authorities with 451 or more pubs, the average house price fell by a further -6% to £238,163, an -18% gap between those local authorities with the most and least pubs.

Number of pubs

Average House Price

1 to 150

£289,479

151 to 300

£263,041

301 to 450

£253,808

451 plus

£238,163

So if you’re a big fan of the pub then you could find they make for a more affordable property purchase, but this isn’t always the case.

Which major cities are most affected?

We looked at pub availability and house prices across each major UK city and found that with 4,366, London is home to the most pubs. However, with an average price of £500,310, it’s also the most expensive place to buy a property.

The good news is that Leeds (£212k), Birmingham (£207k), Bradford (£155k), Liverpool (£157k), Glasgow (£150k), Manchester (£211k) and Sheffield all rank within the top 10 for most pubs with between 300 and 600, while also offering a below average house price.

Analysis & Insights

Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented:

“For most, the presence of at least one good pub in the local area can be a sought after social requirement when house hunting. However, it’s understandable that too many pubs might put some homebuyers off due to higher levels of noise pollution, footfall and the other negatives associated with our drinking culture.

It certainly seems to have an impact when it comes to house prices and the volume of public houses in the local vicinity, with areas home to more pubs commanding a lower property price on average.

This may be due to the decline in the popularity of the Great British pub in recent years and so those who are looking to sell having bought back in the public house hay-day might find homebuyer sentiments have changed.

As with any house sale, the initial key to attracting buyers is to price appropriately based on current market conditions. At Yes Homebuyers we love the pub, so we’re always happy to discuss a purchase of a pub adjacent property and see if we can help get your home sold more quickly. At the very least, we can help you ascertain the value of your home and point you in the right direction if a quick sale platform isn’t it.”

See data & sources

Table shows the average property price across local authorities based on the number of pubs in them. Pub data from OpenData, house price info from UK House Price Index

Number of pubs

Average House Price

Price Difference

1 to 150

£289,479

N/A

-18%

151 to 300

£263,041

-9%

301 to 450

£253,808

-4%

451 plus

£238,163

-6%

Table shows the number of pubs and average house price in each major UK city. Pub data from OpenData, pint data from Numbeo, house price data from UK House Price Index.

Location

Number of pubs

Average cost of pint

Average house price

London

4,366

£4.50

£500,310

Leeds

594

£3.29

£211,818

Edinburgh

507

£4.13

£285,867

Birmingham

475

£3.22

£207,363

Bradford

463

£2.86

£154,500

Liverpool

406

£3.01

£156,855

Bristol

392

£3.65

£317,210

Glasgow

362

£3.14

£150,406

Manchester

342

£3.58

£211,107

Sheffield

319

£3.05

£191,733

Newcastle

253

£2.83

£173,968

Nottingham

246

£3.49

£161,649

Sunderland

223

£3.18

£129,838

Cardiff

211

£3.25

£227,435

Swansea

202

£3.13

£162,881

Bournemouth

201

£3.48

£307,001

Aberdeen

200

£3.35

£140,357

Portsmouth

182

£3.81

£231,027

Leicester

174

£3.18

£202,770

Plymouth

149

£3.55

£194,157

Southampton

147

£3.65

£219,368

Oxford

141

£4.04

£452,297

Newport

113

£3.15

£205,556

Cambridge

91

£3.88

£461,935

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