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Christmas markets help to power house price growth

Wednesday 30th November 2016

The UK towns and cities with the best Christmas markets also achieve the strongest price growth, research by Knight Frank has found. 
 
Researching some of the most popular festive markets in the country (and the property price growth in these locations), Knight Frank's study shows that the most thriving property markets are also those with the best Christmas celebrations in town. 
 
Once a mainly German and Austrian tradition, Christmas markets have taken off in a big way in recent years in towns and cities across the UK, with many communities – small and large – holding their own.  
 
“For a Christmas market to be successful, they do have to be established in locations where people have cash to spend,” Rupert Sweeting, Head of the Country House Department at Knight Frank, said. 
 
“Where there is a good Christmas market, there tends to be a concentration of successful local inhabitants, good schools and streets of good houses for them to live in. It’s not surprising therefore that price growth has been strong in the areas with the most popular Christmas festivities.”
 
Unsurprisingly, London's world-famous Southbank tops Knight Frank's list for both Christmas market footfall and price growth. Property prices have grown by an astonishing 76% here in the last five years, with some 5.9 million visitors attending its Christmas market each year.
 
Away from the capital, Brighton and Winchester are the Christmas market locations witnessing the strongest house price growth (47% and 42% respectively).
 
Birmingham, the UK's second city and fifth on Knight Frank's list for price growth (31%), hosts the largest outdoor Christmas market in the country. It has hundreds of stallholders, including many from the market it is twinned with in Frankfurt, Germany. Birmingham's Christmas extravaganza attracts around 5.5 million visitors a year and makes approximately £400m for the city's economy. 
 
Bath, Manchester, Cardiff, Cirencester, Exeter and Belfast – all of which have significant Christmas markets – also saw strong house price growth. 
 
              

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