House prices around London’s “boutique beer neighbourhoods” have grown by nearly 20% more than the London average, according to research from easyProperty.
The research measured the increase in house prices around 50 of London’s leading microbreweries, and said those 28 beer neighbourhoods had seen an increase in value of between 65% and 105% over the past five years, averaging 80%, compared with a London average of 64%.
Top of the list is Walthamstow E17, home to the Wild Card brewery in an old warehouse and the Left Bank Brewery at the Blackhorse Workshop, where average asking prices have surged 105% to £478,636.
The Lea Valley and Leyton, home to the East London Brewing Company and Signature Brews, saw asking prices jump by 94% to £456,046. In Walworth, next to Kennington, where Orbit Beers produces its unfiltered beers, values are up 93% to £545,767.
Most of the breweries are less than 10 years old and a large proportion are housed within disused railway arches, rejuvenating otherwise derelict space.
Easyproperty said that areas most in demand are Brockley, Gypsy Hill and Peckham, where the number of homes sold has dramatically fallen in five years by 66%, 65% and 60%, respectively, creating a shortage and driving up prices.
Rob Ellice, easyProperty’s chief executive, said “These neighbourhoods are generally within zones 3 and 4 with a few on the outskirts of zones 2. The breweries are within light industrial areas or disused railway arches where land is relatively cheap, which means that it’s prime for gentrification.”