The first step to understanding the correlation between property prices and filming locations is to examine the differences in the property market as a whole. It is important to note that property prices are not only influenced by location, but also by other factors such as economic growth, social and political stability and availability of jobs. For example, house prices in London have increased at an unprecedented rate over the last 40 years due to a combination of reasons including: population growth, lack of housing supply and strong economic performance (ONS). When these underlying factors are favourable for house price growth, filming locations can have a significant impact on house price appreciation.
The Notebook or Harry Potter? Living near a famous film property can increase property value by over 250%!
Not every film or TV show is filmed entirely within a studio, with many using real-life properties as the exterior shots for main characters! Famous locations include the use of Wollaton Hall as Wayne Manor in The Dark Knight and Rosenheim Mansion for countless locations ranging from the murder house in American Horror Story to scenes in Buffy the Vampire Slayer.
Can living near these famous houses from films would affect your property value?
Mrs Doubtfire has the biggest effect on property price
The house in Mrs Doubtfire, located in San Francisco, California, has the biggest effect on property price, estimated to have increased neighbouring properties by a whopping 253%!
In second place is Bohemian Rhapsody, one of the few locations set in London, which is estimated to have increased neighbouring properties by approximately 247% – this is 103% more than the Dursley’s house front from Harry Potter.
Ranking third is the 1991 comedy Father of the Bride, starring Steve Martin and Diane Keaton, which is slightly lower at an estimated 243%.
The Notebook has the lowest effect on property price
The film with the lowest estimated effect on property price is The Notebook! Located in Wadmalaw Island, South Carolina, the property is estimated to increase surrounding property by only 65%.
Ahead of The Notebook is the 2007 supernatural teen dream Twilight, with the Cullen’s iconic hidden in the forest property. Located in Portland, Oregon, the modern house is estimated to only increase surrounding property values by 73%.
Finally, third from the bottom is the Dursley’s front of house in Harry Potter and the Philosopher’s Stone – whilst Number Four Privet Drive might not be the real street name (instead, it is 12 Picket Post Close), the house does exist in Bracknell and is estimated to increase surrounding property value by 91%!
Which TV show homes increase surrounding property value the most?
- The Fresh Prince of Bel-Air – 222%
- Sex and the City – 221%
- Friends – 100%
- Golden Girls – 83%
- Full House – 81%
So if you hear that a TV or film company might be filming near to your house, it could be good news. You might find that in the near future your house is worth a lot more than you thought before. For the full TV show and film findings, please see the Uswitch.com blog post: https://www.uswitch.com/mortgages/guides/famous-homes-increase-property-value/.