We've been thinking about moving house recently. It would appear that, within any one town or city district, the biggest influence on the price of property is the people who live in the neighbourhood. This is greater than closeness to the town centre, the reputation of local schools, access to medical facilities and availability of good public transport.
In Chester-Le-Street the houses between the railway station and the town centre are, on average, fifty thousand pounds cheaper than identical houses nearby simply because the "wrong sort of person" lives in them. In this case, "wrong" means "anti-social" but elsewhere in the region it means "Muslim" or "Eastern European, that sort of thing.
Unfortunately, this means that the less well off, such as myself, often have to put up with living surrounded by radgies making life unpleasant or in culturally alien neighbourhoods and immigrants are forced into living in what amount to ghettoes whether they want to be with their previous compatriots or not.
I've always doubted the claim that money can't buy happiness but I know for certain that not having money makes the possibility of routine unhapiness much more likely.