Sweet sound of house price affordability found near major music venues

We analysed house prices across 19 postcodes of the nation’s biggest and brightest music venues, and according to our research, the sound of music has a great effect on house price affordability. In fact, our study revealed that these properties are a whopping 58% more affordable than homes in the surrounding areas.

This is great news for potential buyers looking for a more affordable foot on the property ladder. Co-founder and CEO of GetAgent.co.uk, Colby Short, commented:

“It’s not unusual for house prices surrounding major venues of any sort to also boast a greater degree of affordability. For fans of music, sport, or whatever it may be, living within close proximity of a major venue may be a dream come true.”

Whether you’re a music lover wanting the best of both worlds, (or a first-time buyer with a great pair of earplugs!), these entertainment hotspots may just be the location you’re looking for.

Three northern cities take the podium

Out of all the major UK music venues, Scarborough’s Spa Complex is home to the highest level of housing affordability. Boasting an average house price of just £156,144, the YO11 postcode is an impressive 44% more affordable than the wider cost of purchasing within the North Yorkshire area (£277,490).

Coming in second place is none other than the Beatles’ famous stomping ground, the city of Liverpool. Homes sitting in Liverpool’s L1 postcode near The Philharmonic Hall fall 33% below the wider city’s average home price of £177,628.

Taking the bronze is the NE1 postcode, home to Newcastle’s O2 academy. Hosting a dazzling number of superstars, this musical hotspot boasts an average home price of £143,593, making it 27% more affordable than the wider Newcastle average.

Music venue locations are ‘simply the best’ for affordability

We found a number of other major music venues all over the UK offering up the sweet sound of house affordability. From Manchester to Gateshead, here is the full breakdown of our findings:

The price of ‘house’ music

That being said, our research also found that some major UK music venues do command a hefty house premium, albeit due to the fact they’re largely located within the capital.

House prices surrounding Wigmore Hall in Westminster’s W1U postcode area were revealed to be 68% more expensive than the wider borough itself. The same could be said for St Martin in the Fields (+52%), London’s O2 Arena (+36%), the Southbank Centre (+33%) and Stables in Milton Keynes (+31%).

Not to mention the wider cost for those who aren’t as interested in what the big music venues have to offer. Colby continued:

“For those who don’t consider themselves fans, however, the idea of living on a street regularly frequented by thousands of people on their way to and from a show, gig or match is far from desirable.”

Depending on your property priorities, you may want to consider a more expensive property if you want to avoid the hustle and bustle of showbiz.

‘I have confidence’ in music venue hotspots

If you can spot the reference, it’s pretty clear ‘the sound of music’ offers great opportunities for potential buyers wanting to get on the property ladder. As Colby comments,

“The good news is that for those keen to own their own home, these areas offer a far more affordable foot on the ladder, as long as they don’t mind a little extra noise and activity from time to time.”

The research showed that, on average, house prices across the wider local authorities came in at £368,426. Compared to the more than halved average of £154,593, it seems that house prices within these major music venues could be a much more desirable option for potential buyers.

If you’re interested in the value of your home, our Online Valuation Tool gives you an instant valuation for your property, as well as properties up and down the country. Try it out today!

Data table

Data tables and sources can be viewed online, here.