Stadium proximity premium for house prices

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Homes close to Premier League football grounds have increased their value at double the rate of those across the country over the last decade, a report has found.

House prices in the postal districts of the 20 clubs kicking off the 2013/14 season have risen by £353 a week on average over the last 10 years, according to research by Halifax.

Prices in these areas have increased by around 135 per cent over the decade, meaning they have risen at twice the 68 per cent rate of increase typically seen nationwide over the period.

The average house price in the 20 Premier League stadium postal districts is £319,800, which is one third higher than the average house price across England and Wales of £240,300.

Manchester City was declared the “winner” of Halifax’s Premier League house price table. The average value of homes in the postal district of the Etihad Stadium has risen by 259 per cent over the last decade.

The area around Hull City’s KC Stadium has seen the second biggest jump, at 162 per cent.

London clubs were close behind, with Chelsea and Fulham scoring the third biggest increases at 102 per cent on average, 
followed by Arsenal at 101 per cent.

Chelsea and Fulham’s postal district of SW6 has the most expensive house prices, at £851,812 typically, which is more than 13 times the average house price of £63,974 in the postal district of L4 – home to both Liverpool and Everton football clubs.

Houses in Chelsea and Fulham cost 15.6 times local annual earnings, while those close to Liverpool and Everton cost just 2.3 times average wages.

Newcastle United finished bottom of the house price table, being the only area where house prices have fallen between 2003 and 2013. The average value of properties close to its home ground slid by 11 per cent.

Halifax said several of the areas which saw the biggest increases were those where relatively new grounds had been built. Newcastle United’s ground is one of the oldest in the Premier League.

Craig McKinlay, mortgage director at Halifax, said: “The boost to property prices in these areas partly reflects the local regeneration that typically takes place alongside the building of modern sporting arenas, including improved transport links.

“There are, however, significant variations in home 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.”