Premier League house prices soar
The average house price in the postal districts of the 20 clubs kicking-off the 2013 season next weekend has increased by 135% in the past decade; from £136,300 in 2003 to £319,800 in 2013.
This is equivalent to a weekly rise of £353 and is double the 68% increase in house prices across England and Wales as a whole over the period.
Craig McKinlay, mortgage director at Halifax, said: “The areas surrounding many of the country’s top football clubs have seen house prices rise considerably during the past ten years with some of the best performers being those clubs with new grounds
“The boost to property prices in these areas partly reflects the local regeneration that typically takes place alongside the building of modern sporting arena including improved transport links.”
But McKinlay said there are significant variations in house prices around the nation’s leading clubs with some supporters needing to pay far more to live near the ground of their favourite team than others.
Average prices have more than doubled since 2003 in the areas close to five Premier League grounds. The biggest increase has been close to the home of Manchester City with the average home value in the postal district of the Etihad Stadium rising by 259% over the decade.
The area around newly promoted Hull City’s KC Stadium has seen the second biggest increase with a rise in average property prices of 162%. Chelsea and Fulham recorded the third biggest rises, both 102%, followed by Arsenal 101%.
Newcastle United finished bottom of the Premier League house price table with the average value of properties close to its home ground falling by 11% between 2003 and 2013; the only stadium to record a decline in prices over the past decade.
New stadia have attracted the highest house price growth. Three of the five Premier League postal districts that have recorded the biggest house price increases over the last ten years are home to stadia that have been built since 2000.
In contrast, four of the five Premier League stadium areas that have seen the smallest house price growth have stadia that were opened before the outbreak of the Second World War. Newcastle United’s ground, built in 1892, is one of the oldest in the Premier League.
The postal district covering both Chelsea and Fulham Football Clubs, the SW6 area, is the most expensive to live in with an average house price of £851,812. This is more than thirteen times the average price in the least expensive Premier League area of L4: home to both Liverpool and Everton Football Clubs with an average house price of £63,974.