TV locations: The pandemic proof way to spike house prices

HOUSE PRICES IN DUNLOP, SET OF DEADWATER FELL, MORE THAN DOUBLE (129%) NEIGHBOURING TOWN

  •  House prices in locations of picturesque TV programmes rose by an average of 5%¹ in 2020 vs neighbouring towns which saw just a 2%² increase

  • Dunlop, East Ayrshire, set of ITV drama Deadwater Fell, tops the list with a 9.5% increase in property prices³ in 2020, with  prices more than double (129%) the neighbouring town of East Kilbride⁴

  • This is closely followed by Symonds Yat East in Herefordshire which saw properties increase by 8.82% (Sex Education), Beaconsfield at 7.75% (Afterlife) and Morecambe at 6.28% (The Bay)⁵

  • Trussle has mapped out the most popular TV locations across the UK here

16th March 2021 - New data by online mortgage broker Trussle has revealed house prices in locations of popular picturesque TV programmes rose by an average of 5% in 2020⁶ compared to neighbouring towns which saw a 2% increase. In a year where we spent more time at home than ever before, time on streaming services doubled and more and more households subscribed to streaming platforms to pass the time in lockdown.⁷

Topping the list was Dunlop, East Ayrshire, the set of hit ITV drama Deadwater Fell, where properties not only rose by 9.5% in 2020⁸ but are more than double the local town of East Kilbride⁹. This was followed by Symonds Yat East in Herefordshire, home to the first and second series of Netflix original Sex Education, where prices rose an impressive 8.82%. And coming up just behind was Beaconsfield, Buckinghamshire, the location of Ricky Gervais’s comedy-drama, Afterlife, where properties surged by 7.75%.¹⁰

This location phenomenon pre-dates the COVID-19 pandemic, with houses close to the set of serial crime drama, Broadchurch lifting 8.3% when the show aired in 2013, and those close to Poldark’s scenic setting spiking by 11% in 2015.¹¹ Therefore, whilst there are undoubtedly a number of contributing factors to an increase in house prices over the last year, it seems more than ever, we are taking inspiration from our screens.

Miles Robinson, Head of Mortgages at online mortgage broker Trussle, comments: 

“The last year has seen a big shift in homeowner priorities. Searches for properties in small towns and villages doubled as city dwellers opted for countryside living¹². Increased time spent indoors led to 1 in 7 adults considering a move to a home with more space¹³ and it seems our favourite TV programmes are inspiring us too, becoming much more than an ‘escape from reality.’

Since the first lockdown in March last year, it’s not just the TV effect which has impacted house prices. The announcement of the stamp duty holiday, as well as an increase in buyer demand has bolstered the market considerably¹⁴. The recent announcement of the Government’s 95% LTV mortgage guarantee¹⁵, coupled with the extension of the Stamp Duty holiday¹⁶, is likely to boost demand further in the first half of this year. As buyers with smaller deposits return to market we could see demand continue to increase, pushing up house prices even further.” 

~Ends~

Contact

For further information, please contact:

Emily Coyle at [email protected] or Leilah Mackie at [email protected] 

We’ve taken extra care to ensure the information provided within this release is presented in a way that’s compliant with regulatory requirements. If you have any questions about how to repurpose this information or require any further assistance, please contact Leilah Mackie at Trussle.

1. Data sourced by Trussle using Zoopla 19.02.2021

Total increase of all x10 regions = 54.36% 

54.36% / 10 = 5.436%

2. Data sourced by Trussle using Zoopla 11.03.2021

3. Data sourced by Trussle using Zoopla 19.02.2021

4. Data sourced by Trussle using Zoopla

Average increase in Dunlop: 9.49% | Average increase in East Kilbride: 4.14%

9.49% / 4.14% * 100 - 100 = 129%

5. Data sourced by Trussle using Zoopla 19.02.2021

6. Data sourced by Trussle using Zoopla 19.02.2021

Total increase of all x10 regions = 54.36% 

54.36% / 10 = 5.436%

7. Time on streaming services doubles during pandemic, as 12 million adopt new services https://www.ofcom.org.uk/about-ofcom/latest/media/media-releases/2020/lockdown-leads-to-surge-in-tv-screen-time-and-streaming

8. Data sourced by Trussle using Zoopla 19.02.2021

9. Data sourced by Trussle using Zoopla 19.02.2021

Average increase in Dunlop: 9.49% | Average increase in East Kilbride: 4.14%

9.49% / 4.14% * 100 - 100 = 129%

10. Data sourced by Trussle using Zoopla 19.02.2021

11. https://www.tepilo.com/blog/2017/03/property-and-tv-the-broadchurch-effect

12. https://www.independent.co.uk/voices/coronavirus-london-property-move-house-countryside-prices-housing-crisis-b883310.html

13. Source: Trussle research 29 May – 1 June 2020

Calculation: 2002 respondents were asked ‘ Has the Covid-19 pandemic and lockdown made you think about moving to a larger property with more space?’

298 selected ‘yes’

298 of 2002 = 15% 

15% = 1 in 7

14. https://www.landlordtoday.co.uk/breaking-news/2020/8/stamp-duty-holiday-triggers-unseasonal-rise-in-housing-transactions

15. https://www.financialreporter.co.uk/mortgages/budget-sunak-confirms-95-ltv-mortgage-guarantee-scheme.html

16. https://www.thisismoney.co.uk/money/mortgageshome/article-9333143/Homebuyers-breathe-easily-stamp-duty-holiday-extended.html

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