Commercial Property Prices Soaring Next to Football Grounds
By Guest writer, Mon 03 July 2017 16:28
Research shows that the price of commercial and residential real estate next to football stadiums is soaring in the UK – at more than double the national average. Premier League football stadiums are not only attracting football fans to matches on the weekends, they are also attracting investors and home buyers.
Find out more about the retail and residential boom around football clubs and why these locations are increasingly popular for sales.
Price Rises for Football Properties
Properties do not need to be right next to football grounds like Manchester United or Manchester City – they merely need to be in the vicinity in order to attract higher prices. According to recent research, in the last 10 years the average house price near to a football club in the premier league has risen by around £353 a week. The properties most in demand include those next to Old Trafford, Emirates, and Anfield. The rate at which property prices increased near to these grounds was around 68 percent more than the national average.
Why Do Football Grounds Attract Businesses and Home Buyers?
People are willing to pay more for properties located next to football grounds for a number of reasons, according to Commercial People. When a football stadium is built it is normally within an area of general regeneration, say the experts. Modern football stadiums are in areas that benefit from improved transport links, better infrastructure, and a more attractive environment.
In addition, there is the natural draw of a football club for fans of the team. Businesses and individuals with links to a specific club are willing to pay much more in order to be close to their favourite team.
Data on House Prices Close to Football Grounds
According to recent data, the average price of a house near to one of the 20 Premier League clubs is £319,800. This is up to one third more than the average cost of a property in the UK. The stadium that has seen the largest property price rises in its vicinity is Manchester City. The cost of real estate surrounding this stadium has increased 259 percent over the decade. Other grounds that have also seen big increases in property prices include Hull City’s KC Stadium, and Chelsea FC. Fulham FC has also seen big rises near to its grounds.
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