Does Reality TV affect property prices?Make Text Bigger
Extracts from an intriguing Readers Letter from PR agent Ally Whicher of Woodthorpe Comms asking; “does reality TV affect property prices?”
According to Ally, Rightmove UK recently commented; “The locations of reality TV series’ such as Made In Chelsea and The Only Way Is Essex are becoming ‘reality chequered’ by their respective shows, as the British public’s perception of places like Chelsea and Brentwood is being dented by what they are seeing on-screen. Rightmove has identified a ‘TOWIE Effect’ on places where reality shows are based, so-called as The Only Way Is Essex has tarnished its filming location the most.
Around half (48%) of the UK population state they now view Brentwood in Essex as being ‘less desirable’ as a direct result of seeing Mark, Arg, Amy, Joey and co. on the hit ITV show. Only 11% of those surveyed felt TOWIE had made Brentwood more desirable, with 15% claiming it had no effect and 24% stating they didn’t know about the show.”
Ally works for Woodthorpe Comms a PR firm which looks after the PR for London-based property repairs and maintenance company Homefix Direct. Ally told us that Declan Curran, a Director of Homefix Direct had the following to say in response to Rightmove:
“I’m pretty sceptical about the alleged negative effect of reality shows on local property prices. Certainly we’ve never heard of this phenomenon from any of the estate agents we deal with in Chelsea or Essex on a daily basis! In fact, I doubt that shows like this would have much of an effect, except perhaps to make younger viewers aspire more to living in Chelsea later in life.
Obviously in some cases very negative associations will have an impact on property values – I wouldn’t fancy trying to sell Jimmy Savile’s old penthouse for example. But to be honest, I suspect that the viewers of these shows are more concerned with the price of kebabs and alcopops than the value of apartments in Brentwood or SW3, and the people who are concerned with property values are probably barely aware of who’s cheating on whom on the King’s Rd.
Put it this way – I happen to own a rental flat in Chelsea and I don’t sit thinking “oh no, that’s another £10k off the value” every time Millie starts whining about nothing in particular…”
What do you think – does reality TV affect property prices?
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