Inspired by The Great British Bake Off online estate agent eMoov.co.uk have conducted a study of the property market in the home towns of some of the nation’s favourite puddings, breads and cakes.
The Chelsea Bun is in first place with an average house price of £2m+ in West London, substantially more than its closest rival the Eton Mess (£647,229) in Eton, Berkshire.
The Bakewell Tart comes in third with average prices of £365,000 in Bakewell, Derby, followed by the Bramley Apple Pie (£333.600) and the Welsh Cake (£167,795). Bottom of the table is the Eccles Cake, with the average house price in Manchester is £147,736.
Which cake should you invest in? The study shows the Bramley Apple is a better investment than the Chelsea Bun. Southwell in Nottinghamshire, home to the Bramley Apple, had the biggest increase in house prices since the last series of the Great British Bake Off, with prices increasing by 7% in the last year.
It was closely followed by Eton Mess which had an increase of 6%, whilst prices in Chelsea have dropped by 3% over the last year, the only sweet treat to have also seen a decline.
The battle of breads has been going on between Hovis and Warburtons. The average property prices both bread makers’ home towns have seen an increase of 1% in the last year.
However, it is Hovis which wins this battle, the average house price in Macclesfield, the manufacturer’s birthplace, is £261,000, while in Bolton, home town of Warburtons, it is £115,000 lower.
When it comes to Britain’s favourite pastries the South / Midlands divide over the Cornish pasty and the pork pie is quite large. Although Cornwall has a higher average house price (£246,581) than Melton Mowbray (£230,282), the Leicestershire town has enjoyed a bigger increase in value over the last year (6%, compared to 2% in Cornwall).
Founder and CEO of eMoov.co.uk, Russell Quirk, said: “It’s funny how well these British favourites reflect the property markets in their home towns. Although the Chelsea Bun is delicious, its more prestigious image and newfound popularity has pushed up the price.”
“The humble Bramley Apple Pie on the other hand is simple but appealing. Although the appetite for property in Macclesfield may be slightly less, the high increase in house prices highlights the growing demand in the area,” he said.
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