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The royal effect? Royal births & weddings spark monthly house price increases

Photo credit: James Devaney/WireImage / Getty
Photo credit: James Devaney/WireImage / Getty

From House Beautiful UK

Royal births and weddings spark monthly house price increases of up to 1.55%, according to new research.

Analysing the rate of the UK's house price growth in the 12 months leading up to such big royal events, conveyancer My Home Move has found that the month during which the event took place saw the biggest changes.

Prince William and Kate Middleton's wedding in April 2011 saw the biggest increase in house prices on a month-by-month basis by 1.55 per cent, which was also seemingly 'breaking the fall of prices amidst the months post-recession.'

Meanwhile, the wedding of Prince Charles and Camilla Parker Bowles had a similar effect on house prices in April 2005, with an increase of 1.42 per cent.

Photo credit: David Cabrera / Getty
Photo credit: David Cabrera / Getty

'We know that the national mood affects the housing market, so it's no surprise that major royal events do so too,' said Doug Crawford, CEO of My Home Move. 'In the build up to royal weddings, people come together to celebrate all things British and there is generally an air of national pride that sweeps the length and breadth of Britain and into the psyche of home movers.

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'From the findings it is clear that the public's fascination with the royal family is a positive thing for the housing market, especially when it comes to events such as marriages and births within the family of the heir apparent.'

Photo credit: James Devaney/WireImage / Getty
Photo credit: James Devaney/WireImage / Getty

And it doesn't just apply to weddings – in July 2013, the month of Prince George being born, prices rose by 1.12 per cent month-on-month, while the month that his sister Princess Charlotte was born (May 2015) saw an increase of 1.08 per cent.

Crawford adds: 'With recent news of falling house prices, we could use another royal announcement to help bring up the nation's mood – we're all looking at you Prince Harry to get married!'

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