This is an interesting driver of property prices

Here’s an interesting driver of property prices…

Findings in a report commissioned by American Express as part of Shop Small Australia month, showed that 47 per cent of the 17 per cent of Australians currently in the market to buy a home would invest an additional 4.4 per cent — or $30,486 — to be near a cluster of local shops.

The analysis confirms that each small business in close proximity to homes delivers an average increase of $164 to the median house price, holding other factors constant.

The types of small businesses people wanted to live near varied

  • 68 percent said access to healthcare services was very important;suburb area map location street city road
  • 64 percent wanted specialised convenience stores such as a deli, butcher, fruit shop, fishmonger and the like;
  • 59 percent wanted to be close to amenities such as schools, libraries and newsagents.

Lowest on the priority list were professional services firms such as accountants and lawyers.

The report, The Economy of Shopping Small, shows that the physical benefits delivered by small businesses extends beyond house prices.

  • Almost two thirds (62 percent) of Australians agree small businesses improve the aesthetics of the surrounding area,
  • 60 per cent say they boost the standard of living, and
  • 58 percent state they provide community support in the form of donations.

small business

Source: Shop Small


Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.

Michael Yardney


Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit

'This is an interesting driver of property prices' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts