"Within the last two decades, London has seen a number of high-profile regeneration projects spearheaded by the creation of new Premier League stadiums, with these investments also bringing about a great deal of investment into the local area, infrastructure and housing markets"
- Guy Gittins - Foxtons
With the FA Cup final set to take place this weekend, new analysis from Foxtons reveals a striking rise in house prices around Wembley Stadium, with average values increasing by 79% since the stadium's completion in 2007. However, the data shows that one other London stadium area has seen even greater growth.
London lettings and sales agency, Foxtons, examined sold price records from the Land Registry, focusing on five London postcodes that have benefited from Premier League club stadium investments.
Wembley’s redevelopment brought far more than a new home for English football. It spurred major investment in the HA9 area, including new commercial and retail spaces and a wide mix of housing. As a result, property prices in the area have climbed steeply.
In 2007, the average sold price in the HA9 postcode was £274,000. Today, it stands at £491,500, a 79% increase. This equates to an average annual rise of 4.7% since the stadium was finished.
But while Wembley has performed strongly, it hasn’t delivered the highest property price growth among London stadium projects. That title goes to Arsenal’s Emirates Stadium. Completed in 2006, it helped drive property prices in the N7 postcode up by 112%, averaging a 6.2% increase per year.
Other stadium-related redevelopments have also brought notable price rises. Since West Ham moved into the London Stadium in 2016, prices in the area have grown at an average annual rate of 4.4%. Tottenham’s new stadium has seen prices rise by 3.1% per year, while Brentford’s new Community Stadium area has recorded 2.1% average yearly growth.
“Within the last two decades, London has seen a number of high-profile regeneration projects spearheaded by the creation of new Premier League stadiums, with these investments also bringing about a great deal of investment into the local area, infrastructure and housing markets," explained Foxtons CEO, Guy Gittins.
He added, "Wembley has perhaps been the most notable of these and it’s clear that the local housing market is now reaping the benefits of this investment, with house prices increasing at an average rate of 4.7% per year since 2007."
"For both homebuyers and buy-to-let investors, it demonstrates the strength and certainty that can come when investing into areas either benefitting from, or earmarked for regeneration.”
