As the festive season gets underway and Christmas markets across the country open to the public, Knight Frank has researched some of the most popular markets in the UK and the property price growth in those areas over the last five years. The results signify that locations with thriving Yuletide celebrations go hand in hand with a prosperous property market.
Once found only in the streets of Germany and Austria, most UK towns and cities now host their own successful markets and can be a sign of an active and sociable community. Rupert Sweeting, Head of the Country House Department at Knight Frank, comments, ‘Markets definitely show that a community is strong. Local churches often get involved by providing choirs and the markets also often raise funds for local charities.
For a Christmas market to be successful, they do have to be established in locations where people have cash to spend. 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.’
Topping the list for both Christmas market footfall and price growth is London’s Southbank, where property prices have grown by 76% over the past five years. The collection of traditional wooden chalets, serving traditional bratwurst and glühwein, attract an estimated 5.9million visitors each year. Outside of London, Brighton and Winchester have both firmly established themselves on the Christmas market map, and have seen price growth of 47% and 42% respectively.
Birmingham, fifth on the list, hosts the largest outdoor market in the country, with hundreds of stallholders in attendance, many of who come from its German market counterpart in Frankfurt. The market attracts an average of 5.5million visitors a year and generates £400m for the city’s economy. It is the largest outdoor market in the country, with hundreds of stallholders, many of whom come from its German twin, Frankfurt.
Christmas markets across the UK and their price growth over the past 5 years
- London Southbank 76%
- Brighton 47%
- Winchester 42%
- Bath 38%
- Birmingham 31%
- Manchester 26%
- Cirencester 26%
- Exeter 21%
- Cardiff 18%
- Belfast 12%
- Edinburgh 10%
- Glasgow 8%