While not all Londoners are lucky enough to live near the Queen Vic, recent research has found that the community feel of a local boozer still has an impact when it comes to homebuying decisions – particularly in the capital.
According to Zoopla, 41 per cent of London homeowners say their nearest pub influenced the decision to buy their current property, compared to just 24 per cent nationally.
Dozens of pubs are closing across the country every month, but their importance in potential home purchases shouldn’t be underestimated; 14 per cent of Londoners revealed that their local watering hole had a “strong influence” in their property choices, nearly three times the national average of five per cent. This is despite the fact that many Gen Z Londoners are choosing not to drink.
Proximity seems to be a particularly important factor with almost a half of Londoners (43 per cent) saying that they wouldn’t offer on a property if they thought it was too far from a pub, with anything over 0.9 miles being a deal breaker. For some die-hard London pub-goers, even this was too much of a stretch; 17 per cent said a pub had to be 0.2 miles away or less.
Of the features that Londoners rated highly in a pub, a range of alcoholic drinks, including craft beers, came top, followed by being family friendly, cleanliness and cooking up a good Sunday roast. Allowing pets inside, having a good non-alcoholic drinks selection and showing key sporting events were also flagged as attractions. Over half (53 per cent) believe the quality of the local pub is important when buying a home, compared to 42 per cent nationally.
“A good local offers so much more than just a quality pint; they can boost house prices and are also a sign of real social value in their communities,” says Emma McClarkin, CEO of British Beer and Pub Association. “It’s also a place to meet new neighbours and friends, catch up on all the local news, and tuck into some delicious pub grub when you can’t face the washing up.”
To make sure that their local was up to scratch, 51 per cent of London homebuyers visited when they viewed a property, and, of them, a staggering 68 per cent made an offer while sipping on a pint. Overall, this means over a third (38 per cent) of London homeowners have made an offer from the pub. And, where better to give yourself a little Dutch Courage? Nationally, half (49 per cent) admitted they’d had a few drinks when the offer went in, with more than one-in-ten (11 per cent) saying they’d had four or more.
The demise of pubs post-Covid has been well-documented, but it seems they are still seen as a useful gauge of an area. Among those who visited their local pubs, 69 per cent did so as they believe pubs are a “reflection of the community”.
“The research shows what a surprisingly strong role the local pub plays in the home-buying process - whether that’s to get a feel for the local community, discuss if you want to put an offer in, or even a as decisive factor in going ahead with a purchase,” says Dan Copley, Consumer Expert at Zoopla. “With estimates suggesting pubs are closing at a rate of 50 a month, the number of homes close to pubs is set to continue to decrease — potentially benefitting the desirability, and perhaps even value, of homes close to one.”
To help buyers find the right home for them, Zoopla has added information on local pubs to their Area Guides, along with details on local schools and transport links.
