Can fried chicken and coffee predict housing trends?
By Jocylin Fan Chiang
In 2015, Sam Floy came up with the idea using cafes and fried chicken shops in London to predict the gentrification of neighbourhoods. He collaborated with a couple of data scientists from ASI Data Science and presented the various “hot spots” of the capital.
Real estate in London can be a nightmare for both buyers and renters. In this hectic metropolis, the newcomers and potential home owners face their very own version of “Sophie’s choice”: where should I live in London? Perhaps this map is answer to that question.
Based on the assumption that an “up and coming” neighbourhood would have high density of coffee shops, low density of chicken shops and currently low housing prices, the combination predicted that Peckham to be the future star of the real estate market!
Interestingly, fast forward to 2017, estate agency Foxton estimated that the average sold price in Peckham had increased 10.83% over the past 12 months. In the same year, Peckham was named by the Sunday Times as one of the best places to live in London. The list was produced according to the data on crime rates, house prices and school performance.
The map shows that Holloway has the highest number of fried chicken shops, whereas Canary Wharf has the lowest.
On the other hand, the map of coffee shops in London has shown that Westminster and Hampstead have served more Cafe Latte than Stratford.
The data scientists also presented a map of London’s housing prices in 2015.
The more yellow the area is, the more zeros there are on the prices. Kensington is the brightest star on the map.
With its hot nightlife, artsy ventures and markets, Peckham has established its reputation as one of the trendiest districts in the city despite its rough history. Perhaps it is time to pack your bags and move to Peckham!
