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If you’re worried a pot shop might set up near your home when Ontario starts allowing them next year, you might be surprised by the fallout of marijuana retailing on home prices in the Mile High City.

Denver is not Ontario, but researchers at Colorado State University found homes located close to legal cannabis dispensaries in that city actually rose in value – just the opposite of what many people might think.

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Their research, recently published in the journal Contemporary Economic Policy, examined how home prices in Denver – the U.S. marijuana mecca, where recreational pot has been legal since 2014 – change when a cannabis retailer opens nearby.

While the London-area realtors’ association points out there’s no data to indicate how pot retailing might affect home prices in this region, the American researchers found that homes located within less than half a kilometre from a dispensary rose in value by 7.7 per cent on average.