However, when it comes to reselling your house surprisingly the number of local options may in fact be detrimental to the resale value.
In a new study, Raisin UK uncover explores the impact of local takeaway choices on house prices by analysing the number of takeaway and food delivery service options in areas across the UK in comparison to local house prices in line with the rising house prices we have been seeing over recent years.
Good takeaway options can damage your house value by £60k
When moving to a new place you might be excited to see how many new Chinese or chippy options you have in your area. Maybe you even have a Nandos locally for a peri-peri chicken delivery. However, our new data has revealed that in fact having more takeaway choices nearly detrimentally impacts house prices.
From our findings, we notice that it’s actually the cities/areas with fewer than 40 takeaways per 100,000 people that have the highest average house price which in 2022 stands at around £447,049. Average house prices fall by £43,337 as the number of local takeaways increases to between 40 and 60 per 100,000 people, and by a further £11,493 as the options increase to between 60 and 80 takeaway options per 100,000.
The largest fall in house prices comes as the number of takeaway options near local housing increases to between 80 and 100 establishments per 100,000 people. This huge financial impact totals a massive £77,374 for prospective sellers to an avergae of £314,845. As takeaway choices approach 100 per 100,00 people, the average local house price drops to an average of £255,595.
Kevin Mountford, savings expert and co-founder of Raisin UK comments on what this means for homeowners or people looking to sell in the near future:
He says: "It is interesting and very surprising to see that despite the UK's love of takeaways, a high number of takeaways in your local area actually negatively impacts the price you can secure for your home. However, when you delve a bit deeper there is a logical explanation as to why.
"For those concerned about the effect on their own property, it is likely that unless you live right next to a takeaway outlet, the direct impact is going to be limited. The differences in price are likely due to wider environmental or geographical factors in the local area.
"For younger people, or those just starting out on the home-owning journey, these areas are a great opportunity to get on the housing ladder for a lower price, with the added perk of being surrounded by your favourite food outlets. This is even an angle that can be promoted when selling your property down the line, as who doesn't love a good Chinese takeout that comes highly recommended by the locals?"
