EastEnders prices increase tenfold
Based on real East End prices the cost of buying in the fictional borough of Walford has rocketed from £32,567 in 1984 to £336,175 – a 932% increase.
This exceeds gains for both Greater London (820%) and the UK (576%) over the same period.
And the locations of other soaps don’t compare, as Coronation Street’s prices have increased by 574%, Emmerdale’s have risen by 526% and Hollyoak’s prices are 526% higher.
Craig McKinlay, mortgage director at Halifax, said: “This light-hearted look at how house prices have changed in the fictional setting of Albert Square is Halifax’s way of celebrating 30 years of one of the UK’s longest-running soaps.
“House prices have risen significantly in the location around the setting of EastEnders since the TV series was launched in 1985.
“These price rises have consistently outperformed the Greater London average, but based on their typical occupation current prices are well out of reach for the majority of Albert Square residents.”
Few residents would earn enough to buy in the area, as bar staff earn just £10,387 and hairdressers earn £11,182, putting the price to earnings ratio at a staggering 32.4 and 30.1.
Even mechanics and publicans, who record real life average earnings of £30,555 and £26,202 in the area, have an average price to earnings ratio of 11.0 and 12.8 respectively.
EastEnders properties have increased in value by 53% in the past five years, outstripping the already significant figure of 42% in Greater London as a whole.