None of the Eastenders characters could afford to buy a house in Walford...better move to Coronation Street.
House prices around the London borough where EastEnders is set have increased more than ten-fold over the 30 years since the TV series began in 1985, according to new research from Halifax. Based on actual east end prices, the average house price in ‘Walford’ has risen from £32,567 in 1984 to £336,175. This is a staggering 932% increase and exceeds the average gains for both Greater London (820%) and the UK (576%) over the period.
Increases price out main characters
However, this improvement in property prices in and around Albert Square would actually make it very difficult for any of the main characters to purchase a home in the area. Mechanics and publicans would be best placed, but even then the average price is 11.0 and 12.8 times average annual earnings respectively. At the other end of the spectrum, prices in the area are 32.4 and 30.1 times annual average earnings for bar staff and hairdressers respectively.
House prices around the setting of EastEnders have risen by significantly more than those close to the locations of three other long-running popular soap operas Coronation Street (574%), Emmerdale (526%) and Hollyoaks (526%).
However, having a famous TV series based in the area is no guarantee that average house prices will be higher than the wider regional averages. Property prices in Coronation Street and EastEnders are well actually well below their regional averages. In contrast, the average house prices in the areas surrounding Emmerdale and Hollyoaks are more than £30,000-£40,000 above the wider regional averages.
Soap Opera House Prices 1984-2014
Main Image: BBC