The notoriety factor drives up real estate prices by more than 100%…

Property portal, MoveStreets, has released new data that reveals how the notoriety factor can boost property prices by up to 117% when it comes to areas frequented by the rich and famous.

What the research found

MoveStreets analyzed the average house price in postcodes popular with celebrities in four areas of the UK property market and how they compared it to the wider local authority to see how a celebrity hotspot affects prices real estate.

The study shows that outcodes that are home to a high level of celebrity activity command an average house price of £971,052, which is 49% higher than the Greater Area average.

Prime House Prices

However, this premium reaches a whopping 116% in Westminster’s Mayfair. A favorite haunt of London celebrities, the average house price in Mayfair postcodes is £2.2million, £1.2million more than the average house price in the borough of Westminster .

On the south coast, the Sandbanks in Poole have become popular for celebrities living in the area, as well as those looking for a holiday home. The exclusive property peninsula is considerably more affordable than Mayfair, but still commands an average property price of £632,637, 101% higher than the wider average of £317,588 found in Poole.

Cheshire’s Golden Triangle is arguably the North’s best-known celebrity hotspot and Wilmslow (73%), Alderley Edge (73%) and Prestbury (43%) all command impressive house price premiums compared to the wider Cheshire East average.

Knightsbridge in London is also home to a steep house price premium, the awareness factor, with houses costing 38% more than the overall average.

Areas devoid of stellar power

Unfortunately, the TOWIE and Made in Chelsea effect doesn’t seem as appealing to homebuyers. While popular celebrity postcodes in Brentwood command a premium over the wider area, this increase stands at only 8%, while King’s Road commands only a 4% increase over the wider borough of Kensington and Chelsea.

Adam Kamani, Managing Director and Co-Founder of MoveStreets, said: “It makes sense that those who make a living by being seen will only do so in the best places and therefore any area popular with celebrities is likely to be at home to the best bars, restaurants and the highest property prices.”

Kamani continued, “So if you want to rub shoulders with the rich and famous in your daily life, you’ll have to save up longer, because any house near a celebrity hotspot is likely to cost you just a bit more.”

Zoned

Exit code/s

Average off-code property price

local authority

Municipal real estate prices

Fame Factor Bonus £

Fame factor bonus %

Mayfair

W1

£2,174,492

westminster

£1,004,433

£1,170,059

116%

Sandbanks, Poole

BH13

£632,637

Bournemouth, Christchurch and Poole

£315,049

£317,588

101%

Wilmslow

SK9

£464,763

East Cheshire

£269,108

£195,655

73%

Edge of Alderley

SK9

£464,763

East Cheshire

£269,108

£195,655

73%

Prestbury

SK10

£384,888

East Cheshire

£269,108

£115,780

43%

Knightsbridge

SW1/SW3/SW7

£1,675,343

Westminster/Kensington and Chelsea

£1,214,935

£460,408

38%

Brentwood

CM13/CM14/CM15

£483,755

Brentwood

£449,720

£34,035

8%

King’s Road, Chelsea

SW3/SW10

1,487,775

Kensington and Chelsea

£1,425,437

£62,337

4%

Medium

£971,052

Medium

£652,112

£318,940

49%


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