Homes near to top league football stadiums have doubled in value over the past decade, says research from Halifax.
The lender found the average house price in the postal districts of the twenty premier league football clubs for 2012/13 has increased by 137 per cent over the last 10 years.
The average price has gone up from £152,891 in April 2002 to £362,866 in April 2012 – the equivalent to a weekly rise of £404. Average house prices in the whole of England and Wales went up by 90 per cent over the same period.
Martin Ellis, housing economist at Halifax, said: ‘House prices close to the nation’s most iconic football stadiums have risen substantially over the past decade, particularly in the areas near to some of the newest venues.
‘This partly reflects the local regeneration that typically takes place alongside the building of modern sporting arenas, including improved transport links. The rise in property values does, however, come at a cost with home affordability deteriorating significantly over the last10 years for those hoping to live near their favourite football ground.’
The research also found the average house price in the Premier League stadium postal districts (£362,866) in April this year was 58 per cent higher than the average price for the whole of England and Wales in that month (£229.735).
House buyers looking at the areas near Chelsea and Fulham football clubs in London would have to fork out the most, with an average house price of £749,530 (in April), the lender concluded. House prices around the football stadium of Reading were the most expensive outside the capital, at £220,423.
A full list from Halifax’s research below.
House prices in postal districts of the 20 Premier league team stadiums for the 2012/13 season.
|Club||Stadium||Year Opened/ first Occupied||Average House Price 2002(£)||Average House Price 2012 (£)||Ten year % Change|
|Aston Villa||Villa Park||1897||43,387||97,870||126%|
|Sunderland||Stadium of Light||1997||41,152||92,435||125%|
|Swansea City||The Liberty||2005||52,993||114,098||115%|
|West Bromwich Albion||The Hawthorns||1900||62,806||123,104||96%|
|Tottenham Hotspur||White Hart Lane||1899||132,614||258,891||95%|
|Manchester United||Old Trafford||1910||80,698||154,145||91%|
|Queens Park Rangers||Loftus Road||1917||250,633||473,488||89%|
|West Ham United||Upton Park||1904||110,396||188,623||71%|
|Norwich City||Carrow Road||1935||94,341||149,258||58%|
|Newcastle United||Sports Direct Arena**||1892||136,706||127,215||-7%|
|Premier League Average***||152,891||362,866||137%|
|England and Wales||121,129||229,735||90%|
Sources: Halifax, Land Registry
*Previously used as an athletics stadium
**Previously known as St James Park
***Average of the 20 Premier League teams weighted by transactions.