Boutique breweries give London neighbourhoods a boozy boost
We’ve done a bit of a crawl around 50 of London’s boutique breweries — and we’re a bit agrog by the results. Our research shows some 28 ‘beer neighbourhoods’ have increased in value by up to 105%* over the last five years, with Walthamstow, Lea Valley/Leyton, and Walworth buzzing with gentrification.
Are London house prices under the influence of the ‘Oktoberfest effect’? Our research focussed on London, but makes a strong case for keeping a not-so-bleary eye on new boutique brewery locations around the UK’s other cities. They could be a good indicator of up-and-coming areas ripe for regeneration — and investment.
Values across London’s residential market rose an average of 64% between 2011 and 2016. Average asking prices in Walthamstow, home to Left Bank and Wild Card breweries, increased by 105% to £478,636, while Lea Valley and Leyton — which has the East London Brewing Company and Signature Brews — saw asking prices rise 94% to £456,046.
“Most of the local neighbourhoods that boast a genuine boutique London brewery — not a microbrewery within a pub — have seen asking values exceed those of the Capital’s average growth. So it can be argued that ‘beer neighbourhoods’ have somewhat of a premium,” easyProperty CEO Rob Ellice said.
He added: “These neighbourhoods are generally within Zones 3 and 4, with a few on the outskirts of Zone 2. The breweries are within light industrial areas or disused railway arches where land is relatively cheap, which means that it’s prime for gentrification.”
Oktoberfest, the annual 17-day German Beer festival, begins on 17th September in Munich (Bavaria) and is now in its 183rd year. Celebrations in London commence from late September to early October, which shows Londoners are long prepared to roll out the barrel.
“It’s Generation Z who are attracted to these neighbourhoods not only because of the affordable price tags in the area, but because they offer the cachet of a bohemian, emerging community that provides genuinely local trade — from beers to coffee shops, independent retail outlets and restaurants,” Ellice said.
If you’d like to check out breweries local to you, take a look at the table below.
* Average asking price based on Zoopla statistics