Property Prices Near Football Stadiums Outpace UK Average
Research gathered by Pure Commercial Finance finds homes nearest football stadiums are experiencing property price increases considerably higher than the UK average.
Cardiff-based commercial finance brokers Pure Commercial Finance carried out in-depth research to reveal whether purchasing property near a football stadium is a worthy investment.
Combining Land Registry data and previous reports by mortgage lenders, the brokerage’s campaign highlights previous property surges near new English sports stadiums such as The Emirates Stadium and the Etihad Stadium, and predicts areas which will likely see an increase as the result of future redevelopment.
Research found that, if the same average growth is seen in the next two decades as that seen in 1997 to 2017, investors can expect an average 450% increase in property prices for buildings near Premier League stadiums.
The piece can be read here.
If you’re considering making a long-term property investment, Pure Commercial Finance’s experts have suggested keeping an ear to the ground about developments coming out of Millwall FC.
Millwall’s current stadium, The New Den, opened in 1993 just a few miles from London’s financial centre. In August 2018, it was reported that the club had appointed architects to draw up plans for its community programme, which involves pre-planning what the club requires in order to meet Premier League requirements.
The average property price in nearby postcodes is around £505,000 – up more than 33% in the last five years, and 292% in the last two decades – and, if the club is redeveloped, this could see local property prices positively affected.
Research has also revealed that investing in property surrounding West Ham, Fulham and Arsenal’s stadiums could achieve healthy returns on investment. Whereas property with the highest price per square metre can be found near stadiums belonging to Chelsea, Fulham, and Arsenal.
One of the biggest increases in past property prices could be seen surrounding Tottenham Hotspur’s stadium in North London. The average home value in the postal district surrounding Spurs’ stadium rose more than seven and a half times in the two decades between 1997 and 2017 from £59,638 to £450,104. Zoopla states the current average price around White Hart Lane is just under £460,000.
Ben Lloyd, Managing Director and Co-Founder of Pure Commercial Finance, said:
“The statistics are compelling, it’s great to see that as a result of the development of new football grounds its proven to not only stimulate local infrastructure investment, regenerate tired or unused areas of the cities but to create an unprecedented rise in house prices in the immediate area of redevelopment.”
Read the full research:
- How Stadium Investment Affects Property Prices in Surrounding Areas
- Stadium Property Prices: These Are the New Football Stadiums Currently Being Built
Kindly shared by Pure Commercial Finance