With the new 2015/16 season just around the corner Halifax is taking a look at how property prices near Premier League grounds have developed over the years.
The average house price close to a Premier League ground has increased by 78 per cent over the last decade and is 10 times higher than national average gross annual earnings, the research revealed.
In terms of property values, Chelsea are already champions, according to Halifax’s analysis.
Over the last decade, the average home value in the postal district surrounding Chelsea’s Stamford Bridge stadium has risen by 132 per cent, rising from £476,101 in 2005 to £1,103,398 in 2015.
House prices mirror Premier League success
Chelsea have taken over from last season’s winners, Manchester City, both as League champions and at the top of the table for property price rises.
And while they may have finished as runners-up in last season’s Premier League, Manchester City only saw the third biggest rise in property prices in the area close to the Etihad stadium over the past ten years, with an increase of 119 per cent from £49,122 in 2005 to £107,736.
Going one better than their league position last year the area around last season’s FA Cup Winners Arsenal’s Emirates Stadium have seen the second biggest increase with a rise in average property prices of 130 per cent (from £360,902 to £828,537) during the last decade.
Premiership newcomers
Of the three new teams in the Premiership this year Bournemouth, Leicester and Watford, it is Bournemouth who claim the first bragging rights with a 36 per cent increase in house prices in the last decade, ahead of Watford (26 per cent) and Norwich (25 per cent).
However, in terms of house prices increases, all three are sitting comfortably mid-table whereas at the other end of the table, Newcastle United finished bottom of the Premier League house price table.
Here the average value of properties close to St James’ Park fell by 33 per cent between 2005 and 2015; making it the only stadium to record a decline in prices over the past decade. Southampton (2 per cent), Aston Villa (7 per cent) and West Bromwich Albion (8 per cent) were the next poorest performers, all recording single digit percentage rises in the last ten years.
Craig McKinlay, Halifax’s mortgage director, said:
“The success of the Premier League in recent years appears to have rubbed off on property prices in the areas surrounding many of our leading teams’ grounds. In the last decade average house prices immediately outside some of the country’s top clubs have seen price rises that far outstrip the country as a whole. Some areas – but not all – have benefitted from clubs moving to a new stadium and all the associated infrastructure improvements.
“There is also a strong correlation between house price performance and results on the pitch with last season’s top three also heading the house price performance table for the past decade. However, we’ll have to enjoy the next season before knowing if this remains the same next year.”
