“Creative workspace as a ground floor commercial use does not add material risk and can add value.”
Last year Creative Land Trust published the report Creative Places, Create Value, looking at the positive association between the presence of creative workspace and residential property values.
Created in collaboration with Get Living and Creative Estuary and authored by Dataloft, Hawkins Brown, and Ramidus. The research looks at house price data in various locations recognised as clusters of creative workspaces, analysed over various time frames, in order to identify the level of outperformance in house price data relative to the wider market.
We spoke to Sandra Jones, Marketing Director at Dataloft to give us a better understanding of how the research was carried out. The use of quantitative and qualitative research and how key graphics work to present findings. Such as; values in creative clusters outperformed the London average by 4.4% per annum over 10 years.
Watch the video below to learn more about the financial value and broad set of benefits that creative industries bring to residential areas, expressed in house price data.