"Potter Effect" Rockets Property Prices in UK

Business | February 5, 2007, Monday // 00:00

Real estate dealers are seeing what they call the "Potter effect" in the UK, where property prices in some towns related to the Harry Potter books and movies are rocketing.

The effect was first witnessed in Alnwick, where scenes from Harry Potter and the Philosopher's Stone were shot. There prices rose 51% in 2001, the year of the movie's release, aboutproperty.co.uk announced. A total of 226 properties were sold in the small town that year.

After the best-selling wizard boy who seems to turn everything into a gold mine, another Potter is about to add to the new trend in property, the website adds. With the release of Miss Potter, a movie about the life of beloved children's writer Beatrix Potter, locals at Ambleside, Cumbria hope to cash in too. The town, where the movie was shot expects a great influx of about GBP 5 M after the movie's captured the hearts of enough Brits.

Some enterprisers are even planning to buy their cash cow properties in the area right now, so they can sell it at a profit.

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