Pay £87,000 more for homes near a farmers' market

Midlothian is home to three areas in the top 10 with big price differences

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Home-buyers can expect to pay an £87,000 premium for a property near one of Britain's farmers' markets, a website has found.

Zoopla valued properties near popular farmers' markets at an average of £87,180, or 26%, more than typical prices in the wider county area.

The property website found that homes near farmers' markets in Marylebone in London, Altrincham in Greater Manchester and St Albans in Hertfordshire command particularly high premiums.

A home near Altrincham Market is valued by Zoopla at £274,928 more typically than one in the rest of Greater Manchester.

Midlothian in Scotland was home to three areas in the top 10 with particularly big price differences.

With fresh, seasonal produce and artisan breads and cakes, farmers' markets can bring a taste of the countryside to city living.

While there may also be other factors driving house prices in a local area, the presence of a farmers' market could potentially add to its vibrancy and appeal as a foodie destination.

Zoopla spokesman Lawrence Hall said: "Whilst the majority of home-movers do not specifically factor in proximity to a farmers' market as core to their property search criteria, the data shows the positive impact living near one can have on property prices."

Previous research has also indicated that living near a supermarket could boost the value of a property. Last year, a study from Lloyds Bank found the "Waitrose effect" of living near the supermarket could potentially add nearly £40,000 to the value of a home.

Lloyds found that living near any supermarket chain could add around £22,000 to the value of a home.

Zoopla compared average property prices in the same postcode area as farmers' markets with average house prices in the wider county.

It looked at 50 popular farmers' markets across Britain, some of which are marketplaces where a farmers' market is regularly held.

Here are the 10 areas with the biggest premiums to live near a farmers' market, according to Zoopla, with the average property price near a particular market followed by the average house price in the county and the difference in cash and percentage terms:

1. Marylebone Farmers' Market, W11, London, £1,975,794, £656,223, £1,319,571, 201.09%

2. Altrincham Market, WA14, Greater Manchester, £460,088, £185,160, £274,928, 148.48%

3. St Albans Farmers' Market, AL3, Hertfordshire, £619,583, £261,339, £358,244, 137.08%

4. Morningside Farmers' Market, EH10, Midlothian, £432,701, £192,914, £239,787, 124.30%

5. Stockbridge Market, EH3, Midlothian, £382,020, £192,914, £189,106, 98.03%

6. Cambridge Market Square, CB2, Cambridgeshire, £626,655, £343,698, £282,957, 82.33%

7. Green Park Station Market, BA1, Somerset, £471,521, £262,245, £209,276, 79.8%

8. Otley Market, LS21, West Yorkshire, £273,625, £179,421, £94,204, 52.5%

9. Edinburgh Farmers' Market, EH1, Midlothian, £286,874, £192,914, £93,960, 48.71%

10. Winchester Farmers' Market, SO23, Hampshire, £502,766, £353,474, £149,292, 42.24%


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