Football stadiums add value to houses claims research

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The Independent Online

Living near to a Premier League football ground can add thousands to a property's value, new research claims.

Homeowners sharing a postal district with a top team have seen the value of their property jump by 168%, or £220,000, over the past 10 years, outstripping the overall housing market in England and Wales, which rose by 113% over the same period.

Mortgage lender Halifax estimates the average house price in the postal districts of the 20 current Premier League clubs rose from £132,405 in June 2001 to £353,408 in June 2011, equivalent to a daily increase of £61.

Manchester City topped the property premier league, with the value of a house near the club's newly-named Etihad ground more than trebling over the period.

The club moved into its new stadium in 2003 and Halifax said five of the six biggest rises were in areas where a new stadium had been built in the last 15 years.

Suren Thiru, housing economist at Halifax, said the improvement in prices around new stadiums reflected local regeneration often associated with the projects.

"In general, house prices in the areas that are home to many of our major football venues have strengthened significantly over the past decade, reflecting in part the amenities commonly found in such locations, including good transport links," he said.

Cities with older grounds saw the smallest increases, though Aston Villa in Birmingham was an exception, with prices rising by 215%.

The worst place to own a house over the past 10 years was close to Newcastle United's St James' Park, which notched up a rise of only 31%.

Choosing to live near a ground in London is the most expensive option, with prices close to Chelsea's Stamford Bridge and Fulham's Craven Cottage over 10 times more expensive at £767,000 than a house near Anfield or Goodison Park in Liverpool.

Halifax based its survey on data from the Land Registry.

Manchester City up 350% over 10 years to an average £91,703

Aston Villa up 215% to £111,374

Sunderland up 159% to £97,820

Swansea City up 140% to £115,481

Bolton Wanderers up 134% to £177,399

Stoke City up 134% to £111,657

Liverpool up 133% to £70,461

Everton up 133% to £70,461

Chelsea up 116% to £767,553

Fulham up 116% to £767,553

Wolverhampton Wanderers up 115% to £93,754

Wigan Athletic up 115% to £122,989

Tottenham Hotspur up 111% to £251,323

Blackburn Rovers up 109% to £118,508

Norwich City up 106% to £159,582

West Bromwich Albion up 105% to £128,547

Manchester United up 102% to £143,144

Arsenal up 102% to £539,653

Queen's Park Rangers up 98% to £468,710

Newcastle United up 31% to 144,774

Premier League average up 168% to £353,408

England and Wales up 113% to £236,724