Chelsea tops house price league

Chelsea have already been confirmed as league champions, at least in terms of local house prices increases over the last 10 years, according to research by Halifax.

Related topics:  Property
Amy Loddington
30th July 2015
football

Over the last decade, the average home value in the postal district surrounding Chelsea’s Stamford Bridge stadium has risen by 132%, rising from £476,101 in 2005 to £1,103,398 in 2015.

This is sixteen times the average price in the least expensive Premier League postal district of L4: home to both Liverpool and Everton Football Clubs, where the average house price is £68,883.

Arsenal’s Emirates Stadium have seen the second biggest increase with a rise in average property prices of 130% (from £360,902 to £828,537) during the last decade.

Average house prices close to Premier League football grounds have increased by 78% over the last ten years. This increase is significantly higher than the 43% rise recorded in home prices across England and Wales as a whole over the decade.

At £312,104, the average house price close to a Premier League ground may not stretch to buying a Premier League footballer, but it’s a different story for almost everyone else, as this is 10 times higher than national average gross annual earnings.

Arsenal (15.5x income) is in the second least affordable postal district, followed by Tottenham Hotspur (9.8x) and Premier League newcomers Bournemouth (9.5x).

At the other end of the table, Newcastle United finished bottom of the Premier League house price table. Here the average value of properties close to St James’ Park fell by 33% between 2005 and 2015; making it the only stadium to record a decline in prices over the past decade. Southampton (2%), Aston Villa (7%) and West Bromwich Albion (8%) were the next poorest performers, all recording single digit percentage rises in the last ten years.

Craig McKinlay, Mortgage Director at Halifax, said:

“The success of the Premier League in recent years appears to have rubbed off on property prices in the areas surrounding many of our leading teams’ grounds. In the last decade average house prices immediately outside some of the country’s top clubs have seen price rises that far outstrip the country as a whole. Some areas – but not all – have benefitted from clubs moving to a new stadium and all the associated infrastructure improvements.

“There is also a strong correlation between house price performance and results on the pitch with last season’s top three also heading the house price performance table for the past decade. However, we’ll have to enjoy the next season before knowing if this remains the same next year.”

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