Post date: Saturday, 25th August 2012

Manchester City top Premier League housing boom


Houses built close to Premier League champions Manchester City have enjoyed the biggest price increases over the last 10 years, according to new research from Halifax.

Property prices close to Manchester City’s Etihad Stadium have risen by an average of 271% over the past 10 years, almost double of closest rival Aston Villa (126%) followed by Sunderland (125%) and Swansea (115%). Newcastle, however, came bottom of the property price league – house prices around St James Park have fallen 7% over the past 10 years.

Overall, homes built close to Premier League grounds witnessed a 137% increase over the past decade, a 1.3% rise over the past year alone, compared to an average 2.7 fall across England and Wales.

Not surprisngly, five of the least affordable districts are in London - the average price of home close to both Chelsea and Fulham is £749, 530, more than 14 times the average earnings in the area. Homes close to QPR’s Loftus Road came third with 9.1, and Tottenham fourth with 6.5.

Outwith London, Liverpool postal district L4, home to both Liverpool and Everton, was the most affordable district. The average price of a home in this area is £63,473, 2.3 times gross average earnings.

Martin Ellis, housing economist, Halifax, said:"House prices close to the nation's most iconic football stadiums have risen substantially over the past decade, particularly in the areas near to some of the newest venues.

"This partly reflects the local regeneration that typically takes place alongside the building of modern sporting arenas, including improved transport links.

"The rise in property values does, however, come at a cost with home affordability deteriorating significantly over the last ten years for those hoping to live near their favourite football ground."

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