November 30, 2017
The Reverse Latte Effect: Home Prices Near Starbucks in Hamilton [INFOGRAPHIC]
What indicates a hot new neighbourhood? While there are a number of factors behind home price appreciation in specific areas, one noted phenomenon is the “Starbucks Effect”, an observation that wherever the coffee giant sets up shop, real estate prices surge.
But can the emergence of the familiar green and white siren logo always predict higher values with certainty? Not in every case, finds the latest data from Zoocasa. We analyzed freehold home sales from the REALTORS® Association of Hamilton-Burlington from January to October 2017 to see if there’s a premium for living closer to the coffee chain – and found that when it comes to Hamilton real estate, it’s actually $17,000 to $376,000 cheaper to live closer to a Starbucks in the Hammer. No need to cut back on lattes to save for that down payment!
Check out how the Starbucks Effect impacts home prices in each Hamilton neighbourhood in the infographic below: