A Nearby Football Stadium Can Help Increase House Prices
House prices have been reported to be increasing in key areas and lately most of the talk has been how prices have increased near Olympic venues in the London area. A recent report from BBC news showed that in the last decade house prices have risen around Premier League football grounds. The report showed that property values in the same area of a top league team have increased by an average of 168 per cent to £353,408.
The largest increase for home values near a football league stadium was the area around the Manchester City’s Etihad Stadium with an average increase of 350% rise to £91,703. Five out of the six largest increases for average house prices occurred where a new stadium had been erected within the last 15 years, and this included the Etihad Stadium area. The lowest average increase was for the area around Newcastle United’s St. James Park with an increase of 31 per cent to £144,774 in the last decade.
The BBC interviewed Suren Thiru, a housing economist for Halifax, for the report and he commented that the increase in the house prices for these areas were largely due to the improved community area that occurs when a stadium is built.
Mr. Thiru said, "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.