In yet another affirmation that where property is concerned only one thing matters – location, location, location – Halifax has released the results of a study that shows that house prices near Premier League football club stadiums rose at a greater pace than the average.
The Halifax data shows that over the last decade the average house price in the areas around the twenty Premier League clubs for 2011/2012 rose by 168% compared to the average for England and Wales of 113%.
These prices have risen by 11% in the last year alone.
With the prices in those areas rising from Â£132,405 in June 2001 to Â£353,408 in June 2011 that is a total rise of Â£221,363, or the equivalent of Â£61 a day. To put that in context that is the same as having a job that pays Â£22,136.30p a year.
Manchester saw the biggest rise where prices have gone up by 350%, but it’s the area around City’s Etihad stadium that saw this largest rise, not United.
The areas around the newest stadiums have also generally benefited the most, of which Manchester City’s is one, the others being Sunderland, Swansea City, Bolton Wanderers and Stoke City. These five were all in the top six house price rise areas.
At the bottom of the house price league was the area around Newcastle United’s St James Park, which turned out a dismal performance of only 31% and joins Queen’s Park Rangers, Manchester United and West Bromwich Albion as four clubs amongst the bottom five that had their stadiums built before the end of the First World War.
Things have not been so great over the last year for some clubs with Manchester City, Swansea City, Wolves, Wigan Athletic, Blackburn Rovers and Newcastle United all seeing falls (see table below).
Housing Economist at Halifax, Suren Thiru, 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. The improvement has been particularly marked in the postal districts of some of the newest football stadiums with the local regeneration often associated with such projects helping to boost local property values.”
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