New data from Halifax suggests that proximity to a Premier League team’s home grounds could be a huge boost for local property prices.
Halifax created the data based on figures from the Land Registry in order to mark the 26th Premier League season, which begins on Friday.
Tottenham Hotspur was the ‘winner’, with prices around the team’s former home of White Hart Lane having risen by a stunning 655% over the last 20 years. In 1997, the average house price for the area was £59,638, a price which had shot up to £450,104 by 2017.
“In the last 20 years, average house prices immediately outside some of the country’s top clubs have seen rises that far outstrip the country as a whole, with some areas also benefiting from the associated infrastructure improvements that come with clubs moving to new stadiums,” said Martin Ellis, Head of Housing Economics at Lloyds Banking Group.
West Ham United was the only club on the list other than Spurs that was ranked based on the area around its former home stadium. Ironically enough, the rival London club came just behind Tottenham on the table, seeing a local property price increase of 611%.
The study included the 49 clubs that have played in the Premier League since 1992, including those that will not be competing in this year’s season. Relegation does not seem to have much of an impact on house prices, however: Charlton Athletic came in third with an increase of 583%, despite not having been in the Premier League since 2007.
Portsmouth FC came in at the bottom of the table, with an increase of just 276%. Like fellow low scorers Nottingham Forest and Cardiff City, which came 19th and 18th respectively, the club is merely a former member of the Premier League, having been relegated in 2010.
So, could living close to a football stadium be enough for your property’s value to shoot up? In all likelihood, probably not: of the top 20 scorers, more than half have their home grounds within or immediately outside of London, where rising property prices are essentially seen as a given. Fulham and Chelsea, two teams with grounds in the same area of London, came joint 5th with an increase of 524% and an average local property price of £1,108,649, the highest on the table.
The biggest scoring team outside of London and the surrounding area was Manchester City, which came in 10th with a 20 year price increase of 501% and an average local cost of £123,351. Arsenal, another London team and the 12th highest scorer overall, still beat it with an average local property cost of £763,401.
Having said that, Mr Ellis does have a point when he refers to local infrastructure improvements. The area around Wembley Stadium, for example, is currently one of the largest regeneration projects in the UK and is seeing a great deal of local investment.
While proximity to a stadium, as well as the local infrastructure around it, can be a boon for a property’s value, it is unlikely to be enough to make your home worth millions. Still, football fans are always eager to chase their teams around the UK. If you live close to a stadium, you could still make a mint by renting out your property for major games!
Philip knows the most frustrating aspect of a home improvement job is not knowing anything about it! In the news, Phil is always on the look out for properties that inspire. He’s a fan of modern properties, with a particular soft spot for skyscrapers.