You are here: Home - Mortgages - Buy To Let - News -

Has your home got the Deliveroo factor?

0
Written by: Emma Lunn
29/07/2021
Living in an area with varied Deliveroo options can add up £36,000 to the value of your home, according to a study by Boomin.

The property portal analysed the relationship between nearby restaurant or takeaway options and house price increases, to reveal the value varied food choices can add to your home.

It found that living in an area with a good amount of Deliveroo coverage of 100 or more restaurants will add an average of £36,319 to a home’s value, while some areas could expect even more.

The study also pinpointed particular brands that add value, finding that living near a Wagamama adds an average of £30,887, while a postcode with Papa John’s delivery adds an average of £11,355.

Dubbed the ‘Deliveroo Effect’, similar to what has been seen with homes located within the vicinity of a Waitrose supermarket, researchers reviewed house price increases across the UK, and their correlation to the number of restaurant options each postcode had nearby.

The study found that those with approximately 100 different options on the popular takeaway app can expect their home’s value to be boosted by more than £35,000.

Being in delivering distance of Gourmet Burger Kitchen could add a whopping £27,274 to your home, while living near Wagamama could add up to £30,887. Top of the pack however is Byron Burger, adding an additional £33,132 to homes located close to one of the burger chain’s locations.

Michael Bruce, CEO and Founder of Boomin, said: “Within just the last five years, what buyers are looking for in a home has changed drastically. Choice seems to be leading the way, with owners wanting more things to do, to see and evidentially, to put on their plates.

“Living in a location with good restaurants adds to the general ‘feel’ of an area, so much like certain supermarkets adding value to a home, it’s no surprise that particular restaurant brands have the same power to influence prices too. What was surprising however, was just how much an effect Deliveroo, and having a good amount of choice on the app, has changed things. Deliveries were essential during the pandemic, and the knock-on effect has been beneficial for homeowners living in areas with more variety. As we become more reliant on speedy deliveries and having a whole host of choice at our fingertips, I can only see this value rising further in the future”.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week