It’s called the cupcake effect, and it could be happening in a street near you. The candyfloss-pink shopfront gives it away: windows stacked with colourful cakes. Every cupcake is a special occasion, washed down with a mug of foamy cappuccino. It’s the late-Noughties equivalent to a glass of champagne. And if you live near such a shop, there is every reason to celebrate – cupcakes mean higher house prices.
The craze was started by the girls in Sex and the City, but their Magnolia bakery in New York’s West Village wasn’t the first. Sugary cake shops are the post-credit crunch version of the posh deli or gastropub; they bring a feel-good factor to an area, making the surrounding streets more desirable.
Read more about this new theory .
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