However, the Blairs remortgaged the home to the value of £297,000 in 2004 to fund the purchase of a new London home. The negligible difference between the remortgage value of the house and the current asking price, taken in conjunction with data on properties of a similar size and location from Primelocation.com, would suggest that the connection to the Blairs has not added a premium to the price.
In contrast, properties in locations that are home to a number of stars do appear to have a price premium attached. For example, following Chelsea’s decision to open a new training ground in Cobham in 2004, the village now boasts a plethora of footballers among its residents. Although Cobham was already a wealthy town, the influx of Premiership stars has reportedly doubled the upper price limit for property in the town, making it even more exclusive.
"The fact that a celebrity previously owned a home might make a good story, but it probably won’t have a great impact on the price of an individual property and only if the area itself is desirable will a premium be attached," said Andrew Smith, Head of Research for Primelocation.com.
"After all, the new buyer has to live there, and a celebrity connection won’t make it any more suitable as a home.
"A concentration of celebrities in one place, however, is another matter. As has happened in Cobham, the money that a wealthy elite bring to an area will inevitably attract better shops, restaurants and amenities to cater for them. This in turn makes for a more desirable location, pushing up prices."
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