You may think that your area is up and coming. Certainly, you hope it is. But in 2024, there are some new indicators to show that a neighbourhood has become or is about to become a fashionable place to live – and where your investment will be rewarded when it comes time to sell.
Exercise-conscious young professionals and independent cafes are some of the key signs that a location has arrived, according to Grant Bates of estate agency Hamptons.
He believes that an area is on the up if he spots a lithe and affluent-looking 30-something mother in expensive athleisure wear, pushing a large and expensive all-terrain buggy. She is heading for the park, sipping from a cup with the logo of an artisan coffee shop.
So what other indicators come into play. Here’s what to look out for:
Move over, Waitrose
In the 2010s, when a new Waitrose opened up, homeowners would profit. They would gain access to what was Britain’s favourite supermarket, and, as a result of their proximity to Waitrose, their properties increase in value. In 2017, the ‘Waitrose effect’, as it was called, was claimed to give an automatic uplift (an average of £36,000) to nearby properties.
But things are changing, according to Harry Blake of Prime Collection estate agency. He says the Waitrose effect continues but the chain has expensive and low-cost rivals that also add allure to a neighbourhood.
Britain’s favourite supermarket is now Aldi, and the presence of such a supermarket can provide a boost to house prices. Well-off ‘Lidl-class’ shoppers like to show off about the seafood, pate and award-winning bargain champagne that they have snapped up at these discount supermarkets.
At the other end of the spectrum is the American supermarket chain Whole Foods, owned by tech giant Amazon, and known for its high quality (and highly priced) organic goods and ban on hydronated fats and hundreds of other colours, preservatives and sweeteners.
At the height of the post-pandemic house price boom in the summer of 2022, the average price of a property close to one of the seven exclusive Whole Food Market stores was £970,147 – which was 248 per cent above the UK average at the time.
Padel appeal
Green spaces and good schools may be the basis of an area’s appeal. However, families who are house hunting this year will also be looking for some important extras.
In London, the Cotswolds and Manchester’s elite suburbs, there is a growing craze for the game of padel tennis, the world’s fastest growing sport. ‘It’s like tennis, only cooler,’ one estate agent remarks.
The owners of rural mansions are seeking planning permission to build padel courts, and the househunters elsewhere are beginning to ask if there are facilities in the vicinity of a property.
Meanwhile, boutique gyms offering Pilate classes and sessions with chiropractors and physiotherapists could be another indicator.
The Pig Hotel in the New Forest. The popular hotels boost property prices nearby
Coffee culture
Independent coffee shops that announce the coffee bean of the day on a blackboard outside are also proof a neighbourhood is getting smarter. Gail’s is celebrated for its bread and dishes such as beetroot, lentil and goat’s cheese salad and has 100 outlets in London and Manchester, often with long queues outside on Saturday and Sunday mornings.
Independent bakeries serving sourdough and freshly baked pastries and delis with charcuterie, fresh fruit and vegetables are also indicators your home is in a trendy neighbourhood, ideally situated on a high street which has been regenerated, rather than left to languish.
James Shaw, director of Prime Purchase, a buying agency which scouts out locations and homes for house hunters, says: ‘Given that the UK is full of cloned, generic high streets, people are keen to see a really good local butcher or deli, a pub with a serious chef, or an independent coffee shop with a bakery. More people are going local and bespoke rather than opting for brand names.’
Becky Fatemi, Sotheby’s International Realty, the estate agency, also emphasises that importance of the high street. She says that just one or two great cafes or shops can bring about the rebirth of this thoroughfare, turning it into a hip hangout not only for the multi-millionaires with whom she deals, but also for everyone else.
The Ivy near Cambridge Circus in London. The restaurants are another sign of an up-and-coming neighbourhood.
Elite delis
Buyers in the market’s upper tiers will also be drawn by an Ivy restaurant (the ideal blend of relaxed brasserie and fine dining) and a Pig Hotel. There are eight hotels from this celebrated shabby-chic brand in England, based in heritage buildings with kitchen gardens and the perfect kind of lush, yet understated country house decor. A similar hotel or pub opening, ideally with an aspiring Michelin chef, will increase an area’s desirability.
Cocktail bars are another huge plus. Not All Bar One-style outlets, with their sticky floors and neon signs, but independent bars with framed art on the walls and trendy, casually-dressed staff serving experimental cocktails in mis-matched coupes alongside bowls of bright green nocellara olives.
Trendy neighbours
Exercise-conscious young professionals dressed in Lululemon athleisurewear could be another sign.
Grant Bates, of estate agency Hamptons, believes that an area is on the rise if he spots a lithe and affluent-looking 30-something mother pushing a large and expensive all-terrain buggy. She is heading for the park, sipping from a cup with the logo of an artisan coffee shop.
Neighbours sporting branded tote bags from their local greengrocer, cheesemonger or coffee shop are also regularly spotted in these areas.
A good cut of beef
An independent butcher is one of the shops that can help bring about this transformation, with the model being the Ginger Pig, with its eight branches in London.
One top London estate agent says: ‘In my experience, people whine about the prices at the Ginger Pig, and also about those at the independent butchers anywhere.
‘But, in the same breath, they say they’re more than happy to pay those prices because the butcher is such an asset to the neighbourhood, helping keep property prices high and foster an upwardly mobile vibe.’
Dog walkers
When you see a sign in the newsagent advertising dog walkers, you’ll know for sure that the area has become sought-after. Paying someone to walk Fido is a luxury and does not come cheap. And, ideally, there’s somewhere pleasant for the doggies to walk with their chaperones. Doggy day care vans picking up pooches for an outing in the countryside are also regularly spotted in these areas.
Baby yoga
It’s never too early to start yoga. And what baby wouldn’t like to have a gentle massage – even if he or she might be completely oblivious to what’s going on. These classes are a great way for mums to meet and share experiences. Of course, a truly plush area is one where the nanny brings Jemima or Wilfred to the classes.
Blooming florists
Forget a bouquet wrapped in plastic from the local Tesco or, even, Waitrose. A sure sign of gentrification is an independent florist, either operating from a shop or a pop-up stall near public transport. Long-stem white lillies are a popular choice – and speak volumes about a neighbourhood, as are dried flowers.
Book shops with events
In an increasing digital world, a book shop is a luxury, especially one where browsing is encouraged. An up-and-coming area might have a literary retailer, who has installed a coffee machine in a corner. There might be a programme of events or special evenings, at which you can buy a glass or two of wine – and toast the neighbourhood you call home.
Handsome homes
The homes in an up-and-coming neighbourhood will, of course, be well maintained. But there are other trend-consciousness indicators, such as olive trees in pots placed on either side of a front door, painted in Farrow & Ball Stiffkey blue, or a similar shade. The door knockers and other door furniture are matte silver, or carefully distressed to look antique.
Plantation wooden-slatted blinds have been an important feature for a while. Some estate agents consider plantation blind density to be a metric of a suburban road’s smartness. If more than 50 per cent of the houses on a street have these blinds fitted at their windows, it’s a sought-after address.
Taylor Howes, the interior decorator, is still installing these blinds in Chelsea underlining their staying power as a status symbol. As a plus, they also bring privacy and warmth. Trends are not just about fashion, after all. They can also make life better.
