Although a summer of sport has been largely postponed, the latest research by property developer, StripeHomes, has found that those eyeing a property purchase within close proximity to a major stadium are best off opting for the sport of cricket.
StripeHomes looked at property prices surrounding each of Britain’s national home venues for cricket, rugby and football and how they differ to the wider area.
StripeHomes found that rugby makes the worst stadium adjacent property investment. While the average house price surrounding Twickenham, the Principality and Murray Field comes in at a respectable £353,707, this is -4.8% less than the broader areas in which these stadiums are found.
House prices surrounding Wembley, Cardiff City Stadium and Hampden Park, home to each national football team, currently cost an average of £230,123. While this is lower than property prices found around rugby stadiums, it is 3.6% more than the wider areas in which they are located.
For those looking for a sound sports stadium investment into bricks and mortar, then cricket is the sport to opt for.
House prices surrounding Lord’s, Sophia Gardens, the Grange and Stormont currently average £521,723. Not only is this the highest sports stadium property value, but it’s also 22.5% more than the average house price across the broader areas.
In terms of the outright most expensive stadiums for property prices, England, or London more specifically, ranks top for all three sports.
Lord’s is the most expensive of the lot, with an average house price of £1.3m in the NW8 postcode. Twickenham comes in second, with an average price of £541,499 in the TW2 postcode, while Wembley’s HA9 postcode is home to an average property price of £473,546.
While Twickenham may be one of the most expensive, house prices are -14.5% lower than Twickenham as a whole, with only the Principality home to a more substantial decline when compared to the broader market (-16.4%).
Murrayfield tops the list in terms of the most buoyant stadium house prices. Property in the EH12 postcode is currently going for 27.1% more than the average price in Edinburgh. Lord’s is also home to one of the largest stadium property price premiums (+24.9%) along with the Grange in Edinburgh’s EH4 postcode (+15.7%) and Wembley (+5.9%).
Managing Director of StripeHomes, James Forrester, commented:
“Living within close proximity of a major stadium will be a huge bonus for many sports fans, but it won’t be desirable for every homebuyer. While football and rugby both conjure images of rowdy crowds with a beer in hand, it seems as though homebuyers are less phased about the gentleman’s game of cricket.
Not only do homes surrounding national cricket grounds rank top for property values, but they are also home to the highest price premium compared to the wider areas in which they are found.
That’s not to say homes surrounding rugby or football grounds can’t make for a good investment. Certainly at StripeHomes our next big investment is going to be close to St James’s Park and not just because I’m a life long Newcastle fan.
The potential of a club takeover will positively impact the city as a whole, let alone the surrounding area. However, in addition to that, you have the Newcastle Helix helping boost the local economy, bringing people to the area. With the second phase of Stephenson Quarter now getting the go-ahead, there will be a heightened demand for new housing and his will help push up local house prices.
Currently, the NE1 postcode lags behind the rest of Newcastle in terms of the average property price, but with such focus and investment, this won’t be the case for long. So those eying a bricks and mortar investment with the strong potential of a future return could do far worse than buying in the area.”
|Sport||Average house price in wider location||Average house price in stadium outcode||Difference (£)||Difference (%)|
|House prices for each sport based on averages taken from the table below.|
|Stadium||Nation||Sport||Wider location||House Price||Outcode||Outcode house price||Difference (%)|
|Lord’s Cricket Ground||England||Cricket||London (Westminster)||£1,085,013||NW8||£1,355,114||24.9%|
|Wembley Stadium||England||Football||London (Brent)||£446,966||HA9||£473,546||5.9%|
|Cardiff City Stadium||Wales||Football||Cardiff||£210,909||CF11||£211,879||0.5%|
|SWALEC (Sophia Gardens) Stadium||Wales||Cricket||Cardiff||£210,909||CF11||£211,879||0.5%|
|Twickenham Stadium||England||Rugby||Twickenham (Richmond)||£633,481||TW2||£541,499||-14.5%|
|Outcode house prices sourced from PropertyData and wider area house prices sourced from the Land Registry.|