A neighbourhood’s schools, safety and proximity to local shops all play into the desirability of its location. But you might not be aware that popular local events can also have a positive impact on valuations. As Wimbledon and Goodwood finish up, here we examine how local events can improve your home’s value.

The UK is home to many popular yearly events, including:

•The Oxford and Cambridge Boat Race on the River Thames in London

•Cowes Week, one of the longest-running regular regattas in the world, Isle of Wight

•Chester Racecourse, including Ladies' Day and the Season Finale this September

•The Goodwood Festival of Speed held at Goodwood House, Chichester

•Henley Royal Regatta – on of the best known regattas in the world, held in Henley-on-Thames

•The FA Cup Final at Wembley Stadium in London

•Royal Ascot Races, held every June in Berkshire

•The Chelsea Flower Show in Chelsea, London

•Glastonbury Festival held near Pilton, Somerset

•Jane Austen Literary Festival, Bath

•The Fringe in Edinburgh

•Wimbledon - the oldest tennis tournament in the world, London

•The annual Hay Festival of Literature & Arts held in Hay-on-Wye, Powys, Wales

•The British Grand Prix at the Silverstone Circuit near Silverstone, Northamptonshire

•The Proms at the Royal Albert Hall in central London

•The Notting Hill Carnival in the Royal Borough of Kensington and Chelsea, London

•Hogmanay festivities in Edinburgh

These events, in addition to many others, attract visitors from throughout the UK and the rest of the world. In fact, it was recently reported that the UK will see a record number of tourists in 2018, and those tourists are expected to spend an estimated £27bn throughout the year. That influx of money and the continued popularity of the UK’s staycation has a positive effect on the neighbourhoods in which it is being spent and, in turn, the desirability and valuation of homes in the area.

How local events affect home values

There are numerous ways in which local attractions – whether music, sporting or other entertainment events – can raise the value of your home. From instigating improvements to local infrastructure, to attracting expats, your neighbourhood’s most magnetic events might turn your home into an irresistible property.

•Expat attraction

Well-heeled expatriates who visit the UK during popular events might be inclined to investigate the local real estate market and, ultimately, invest in it.

•Improved infrastructure

When a city and a specific neighbourhood become home to an event that garners annual acclaim, they must adapt to become as accommodating as possible for the influx of visitors they will be receiving. An improved infrastructure translates into improved roads, public transport and new dining and shopping options – which all lead to a more desirable real estate market.

•Get away from the day-to-day

Visitors from both around the UK and abroad might visit your area and see its potential for a holiday property, thereby making it an attractive area in which to invest.

Tourism and home valuations can go hand-in-hand

Local events throughout the UK attract thousands of visitors, as well as potential real estate buyers and investors. It stands to reason, then, that buying and owning a home in an area that appeals to tourists can be a wise investment. Whether your tastes are inclined more towards elegant city life or the more bucolic but nevertheless luxurious environs of the British countryside, the UK is home to dozens of national events that make it an enticing place to live, as well as a rising real estate market.

Our pick of the best homes near popular UK events:

• Chester Street, Edinburgh, EH3

A beautifully finished residential townhouse in the West End. This is an immaculately refurbished five-bedroom townhouse set out over four floors in Edinburgh’s West End. It has been completely renovated to an exacting standard using the best materials, technology and workmanship.

•Elm Park Road, Chelsea, London, SW3

A substantial six-bedroom family house in one of Chelsea’s most sought-after streets. This elegant, modern and well-appointed home is ideally located for Kings Road and Fulham Road with their array of shops, bars and restaurants.