Harry Potter and Beatrix Potter have more in common than the big screen and their names. Property prices in Beatrix Potter’s home town Ambleside are set to soar in the same way as Alnwick, where the first Harry Potter film was made.

The Potter Effect, which has been driving house sales and boosting the economy in Alnwick a small Northumberland town, since it was first made famous by the Harry Potter film The Philosophers Stone in 2001, looks set to extend to the Cumbrian town of Ambleside, home of another famous Potter, Beatrix Potter.

When the first Harry Potter film hit the big screen, the small town of Alnwick (which played host to Hogwarts, the famous school for witchcraft and wizardry) was put firmly on the map, attracting considerable attention from fans and the like, many of whom set off to visit or even move to the ‘magical’ area.

As a result, house sales in Alnwick and the surrounding areas surged, rising on average 51% in 2001, following the launch of the film, with property sales in Alnwick itself peaking at a record 226, a record which has still not been beaten.

‘Miss Potter’, which has hit the screens this year, now looks set to draw similar, if not even more attention to Cumbria and the Lake District, with Ambleside, the town which is home to the famous Hill Top, where Beatrix Potter lived, set to top the stakes.

Sales in Ambleside dipped in 2006, to the lowest level experienced for over six years. However, the increased interest in the town and surrounding areas, following the launch of the recent ‘Miss Potter’ film looks set to boost house sales and the local economy. Economists are predicting an immediate boost, in the region of £5 million as a direct result of the film - with tourists coming from as far away as America and Japan.

David Bexon, managing director of email4property, said: “I would expect to see demand for homes in Ambleside escalate over the next year, as investors in particular look to capitalise on increased tourism in the area. In fact, I would expect to see the number of people looking to buy second homes at least treble, with buyers drawn in by the picturesque country side and the excellent investment opportunities.”

“However, the smart investor will have already secured a property here, beating the crowds and placing themselves in an excellent position to profit from the imminent influx of tourists, before demand reaches a peak and inflated prices push properties out of their reach.”

“While no buyer is going to be fortunate enough to secure a large farmhouse for under £3,000, as paid by Beatrix Potter for Hill Top in the early 1900s, prices in the area are competitive. While top end properties achieved prices in the region of £700,000 last year, properties at the lower end of the market were available from around £125,000 – but for those that don’t act quickly, this is a price that is unlikely to be seen again considering the town’s new found fame.”