As the Premier League celebrates 25 years the Halifax undertook a very interesting review of house prices around football stadiums. Looking back over the last 20 years they reviewed teams who play in the premiership today and those who have been in the Premier League any time over the last 20 years. This resulted in a review of 49 different football clubs and the performance of house prices around the stadiums.
Increase in value
It will come as no surprise to learn that the majority of top performing house prices relate to London football clubs. While Tottenham have struggled to maintain their form in the Premier League, falling by the wayside twice in the last two years, they are top of the house price performance league. The average property in the district covering Tottenham’s football ground, White Hart Lane, has increased in value from £59,638 in 1997 up to a staggering £450,104 in 2017. This equates to a 655% increase in house price values!
West Ham came second in the league with 611% growth in house prices and Charlton Athletic registered growth of 583% making it the top performing property market for a team currently not in the top flight.
Most expensive properties
Chelsea and Fulham are way out ahead in terms of actual property prices with the average property now costing around £1.1 million. Arsenal, the bitter rivals of Tottenham, came in at £763,401 with Tottenham yet again registering towards the top end of the league table with an average house price of £450,104. It really is no coincidence that London football clubs are dominating the house price league in terms of growth and actual prices. It is also worth remembering that the likes of Chelsea are also able to offer the largest wages in the premiership although they do have the most expensive match day tickets.
The worst performing house prices
To those who follow football and the world of property it will come as no surprise to learn that the worst performing house prices surrounding football stadiums relate to those in the north of the country. The worst performer was Blackpool with the average property valued at £88,668 which is an increase of just 124% over 20 years, then we have Middlesbrough at £69,630 and an increase of 135%, Newcastle did not fare so well with the average property valued at £148,775 an increase of just 146%, Bradford City posted an increase of just 155% with the average property valued at £93,174 and completing the bottom five we have Wolverhampton with an increase of 157% and an average property price of £102,675.
No escaping the North-South divide
In the world of football there is no escaping the North-South divide and it seems the same can be said of house prices in the vicinity of the 49 football clubs who have graced the Premier League. The difference between the likes of Blackpool and Chelsea/Fulham shows that the London property market is to all intents and purposes a market in its own right. However, many people are asking the question, why have investors not moved away from London and the South of England to take advantage of “better value” further North?
This is a quandary which remains unanswered after decades of review, investigation and questioning.