House prices near Premiership football grounds soar
House prices near Premier League football grounds have more than doubled in value, on average, over the past 10 years, according to Halifax.
The average property price in the postal districts of the 20 clubs playing in the top division (season 2013-14) has increased by 135%, from £136,300 in 2003 to £319,800 in 2013.
The rise is more than twice the rate of house price inflation seen across England and Wales as a whole over the decade and at £319,800, the average price is a third higher than the average across England and Wales (£240,300).
The biggest increase is in the district closest to 2011/12 champions Manchester City, where the average value has soared 259% over the decade.
The area around newly-promoted Hull City's KC Stadium recorded the second biggest increase, with a rise in the average house price of 162%.
If house prices were a factor, Newcastle United would be relegated this season, as the average value of homes near its stadium fell by 11% between 2003 and 2013 - the only stadium to record a price slump over the period.
Unsurprisingly, the postal districts covering Chelsea and Fulham’s grounds are the most expensive, with the average house price coming in at £851,812.
The Halifax figures put this at more than thirteen times the average price in the cheapest Premier League postal district, which is home to Liverpool and Everton Football Clubs, where the average price was £63,974.
Craig McKinlay, mortgage director at Halifax, said: "The areas surrounding many of the country's top football clubs have seen house prices rise considerably during the past ten years, with some of the best performers being those clubs with new grounds.
"The boost to property prices in these areas partly reflects the local regeneration that typically takes place alongside the building of modern sporting arenas, including improved transport links. There are, however, significant variations in home prices around the nation's leading clubs with some supporters needing to pay far more to live near the ground of their favourite team than others."
An increase in the general level of prices that persists over a period of time. The inflation rate is a measure of the average change over a period, usually 12 months. If inflation is up 4%, this means the price of products and services is 4% higher than a year earlier, requiring we spend and extra 4% to buy the same things we bought 12 months ago and that any savings and investments must generate 4% (after any taxes) to keep pace with inflation. Since 2003, the Bank of England has used the consumer prices index (CPI) as its official measure of inflation (see also retail prices index).