Homes close to football stadiums are increasing in value faster than the average UK property, new research has revealed.
Analysis of property and mortgage data have revealed if the growth experienced between 1997 and 2017 was repeated over the next two decades, investors could expect a home near a Premier League stadium to increase in value by 450%.
Championship clubs are not immune either. Properties close to Millwall FC are being tipped by the report’s authors as being among the most lucrative for long-term investment potential.
Millwall
Pure Commercial Finance, which undertook the research, said the South London club’s current stadium, The New Den, was just a few miles from London’s financial centre.
In August 2018 it was reported the club had appointed architects to draw up plans for a community programme which involved preparing it to meet Premier League standards.
This redevelopment could provide a further boost to the already buoyant local prices. Currently, the average property price in Millwall’s nearby postcodes is £505,000. They have increased by around a third in the last five years and 292% in the last two decades.
But it’s not just properties near Millwall which could earn investors decent returns, the research also highlighted West Ham, Fulham and Arsenal’s locations as areas which could achieve healthy gains.
Spurs
Tottenham Hotspur, meanwhile, was located in the area with the biggest increases, according to past property prices.
Pure Commercial Finance said the average home in the area surrounding Spur’s White Hart Lane stadium in North London soared in value by more than seven-and-a-half times between 1997 and 2017 from £59,638 to £450,104.
According to Zoopla, the current average house price here is just under £460,000.
Ben Lloyd, managing director and co-founder of Pure Commercial Finance, said: “The statistics are compelling, it’s great to see that as a result of the development of new football grounds, it’s proven to not only stimulate local infrastructure investment, regenerate tired or unused areas of the cities but to create an unprecedented rise in house prices in the immediate area of redevelopment.”
