As this weekend saw the start of the self proclaimed ‘biggest league in the world,’ the latest research from Halifax has revealed that the value of properties
within the UK located near Premier League stadiums has risen by more than £220,000 on average within the last decade. With more and more glamour being added to the Premier League this year, this trend is only expected to continue. This news is promising for mortgage brokers throughout the country, further strengthening the view that the property market continues to remain a force.
The Premier League itself has largely appeared recession proof with astronomical transfer fees and now it appears that house prices near the glamour clubs of British football are feeling the same effects. There are a number of reasons for this, with these figures over a full ten year period rather than since the effects of the credit crunch, as well as a number of new properties being built to coincide with the building of a new stadium in Arsenal and Manchester City’s case, however, existing properties near football stadiums have also seen a sharp rise in their value throughout the last ten years as a large proportion of the UK continues to struggle.
It was Manchester City’s Etihad Stadium which saw the biggest rise among Premier League clubs with house prices more than trebling and rising by 350%, although this has largely been down to a substantial rise in new build houses and flats being built, as well as a major community regeneration project. However, Newcastle United, who finished bottom of the Premier League house rise price table by Halifax, still saw property around St James’ Park rise by a strong 31%.
It is no surprise that it is property near Chelsea’s Stamford Bridge ground which continues to remain the most expensive ground to live near within the Premier League as average house prices near the stadium in 2011 are at a high £767,553. It is near Anfield where average house prices remain the lowest, with most houses around the £70,000 range,
Suren Thiru, housing economist at Halifax, said: “In general house prices in the areas that are home to many of the our major football venues have strengthened significantly over the past decade, reflecting in part the amenities commonly found in such locations, including good transport links.”
A rise in property house prices wherever it may be can only be seen as good news for the mortgage broker. As the Barclays Premier League embarks on its 20th season, here’s hoping for another 20 years of housing success.