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Chelsea Takes the Title Before the First Ball of the Premier League Is Even Kicked

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Chelsea Takes the Title Before the First Ball of the Premier League Is Even Kicked 30/07/2015 The annual Halifax Premier League Football Grounds House Prices Review tracks house price movements in postal districts of the 20 football clubs that will be competing in the 2015-16 Premier League season. The review is based on data from the Land Registry. The 24th Premier League season kicks off on Saturday 8th August. Chelsea takes the title before the first ball of the Premier League is even kicked Life imitates art as last season’s Premier League top three also top the house price performance table The average house price close to a Premier League ground has increased by 78% over the last 10 years, and is 10 times higher than national average gross annual earnings With the 2015-16 Premier League season less than a week away Chelsea have already been confirmed as champions…at least in terms of local house prices increases over the last 10 years, according to research by Halifax. Over the last decade, the average home value in the postal district surrounding Chelsea’s Stamford Bridge stadium has risen by 132%, rising from £476,101 in 2005 to £1,103,398 in 2015. House prices mirror Premier League success Chelsea have taken over from last season’s winners, Manchester City, both as League champions and at the top of the table for property price rises. And while they may have finished as runners-up in last season’s Premier League, Manchester City only saw the third biggest rise in property prices in the area close to the Etihad stadium over the past ten years, with an increase of 119% from £49,122 in 2005 to £107,736. Going one better than their league position last year the area around last season’s FA Cup Winners Arsenal’s Emirates Stadium have seen the second biggest increase with a rise in average property prices of 130% (from £360,902 to £828,537) during the last decade. Premiership newcomers Of the three new teams in the Premiership this year Bournemouth, Leicester and Watford, it’s Bournemouth who claim the first bragging rights with a 36% increase in house prices in the last decade, ahead of Watford (26%) and Norwich (25%). However, in terms of house prices increases, all three are sitting comfortably mid-table whereas at the other end of the table, Newcastle United finished bottom of the Premier League house price table. HALIFAX PRESS TEAM: Shelley Dickinson: 020 7356 1405 / 07766 924 450 [email protected] Ben Marquand: 020 7356 1838 / 07881 311 199 [email protected] Clare Mortimer: 020 7574 8648 / 07768 541 555 [email protected] 1 30/07/2015 Here the average value of properties close to St James’ Park fell by 33% between 2005 and 2015; making it the only stadium to record a decline in prices over the past decade. Southampton (2%), Aston Villa (7%) and West Bromwich Albion (8%) were the next poorest performers, all recording single digit percentage rises in the last ten years (See Table 1). Craig McKinlay, Mortgage Director, Halifax said: “The success of the Premier League in recent years appears to have rubbed off on property prices in the areas surrounding many of our leading teams’ grounds. In the last decade average house prices immediately outside some of the country’s top clubs have seen price rises that far outstrip the country as a whole. Some areas – but not all – have benefitted from clubs moving to a new stadium and all the associated infrastructure improvements. “There is also a strong correlation between house price performance and results on the pitch with last season’s top three also heading the house price performance table for the past decade. However, we’ll have to enjoy the next season before knowing if this remains the same next year.” Huge price variations around Premier League grounds Out of the current Premier League teams, the postal district around Chelsea’s Stamford Bridge ground (SW6) is also the most expensive area to live in, with an average house price of £1,103,398. This is sixteen times the average price in the least expensive Premier League postal district of L4: home to both Liverpool and Everton Football Clubs, where the average house price is £68,883 (See Table 1). The price of living close to a ground Average house prices close to Premier League football grounds have increased by 78% over the last ten years. This increase is significantly higher than the 43% rise recorded in home prices across England and Wales as a whole over the decade. The average house price in the surrounding postal districts of the 20 clubs contesting the Premier League for 2015/16 is £312,104 – a fifth (£49,717) higher than the average for the whole of England and Wales (£262,387). This represents an average increase of £136,434 during the past decade; from £175,670 in 2005 to £312,104 in 2015, equivalent to a weekly rise of £262. Capitalising on the London market At £312,104, the average house price close to a Premier League ground may not stretch to buying a Premier League footballer, but it’s a different story for almost everyone else, as this is 10 times higher than national average gross annual earnings. While four of the five least affordable Premier League postal districts are in the capital, it’s not the same story at all other grounds around the country. Chelsea has the least affordable Premier League postal district with the average property price of being more than 21.3 times annual gross average earnings in the area. HALIFAX PRESS TEAM: Shelley Dickinson: 020 7356 1405 / 07766 924 450 [email protected] Ben Marquand: 020 7356 1838 / 07881 311 199 [email protected] Clare Mortimer: 020 7574 8648 / 07768 541 555 [email protected] 2 30/07/2015 Arsenal (15.5x) is in the second least affordable postal district, followed by Tottenham Hotspur (9.8x) and Premier League newcomers Bournemouth (9.5x). However, at the other end of the league, the postal district L4 – home to Liverpool and Everton – is the most affordable Premier League postal district with the price of the typical home just over double (2.3) gross annual average earnings (See Table 2). ENDS EDITORS' NOTES: Halifax Premier League Grounds Review tracks house price movements in postal districts of the 20 football clubs for the 2014-15 Premier League season. Liverpool and Everton football clubs (L4) share the same postal districts. House price data is from the Land Registry and all price figures refer to the arithmetic average of house prices. The data covers the 12 months to April for the period between 2005 and 2015. These prices are not standardised and therefore can be affected by changes in the sample from year to year. Average earnings figures are from the ONS's "Annual Survey of Hours and Earnings" (ASHE) and refer to the means for full-time employees in the relevant local authority district for each ground. Details of the 20 Premier League grounds have been sourced from official club websites. Data produced by Land Registry © Crown copyright 2015. Housing Economics Helpline No: 08456 045404 Email: [email protected] HALIFAX PRESS TEAM: Shelley Dickinson: 020 7356 1405 / 07766 924 450 [email protected] Ben Marquand: 020 7356 1838 / 07881 311 199 [email protected] Clare Mortimer: 020 7574 8648 / 07768 541 555 [email protected] 3 30/07/2015 Table 1 – Ten year % change in house prices in postal districts of the 20 Premier league team stadia for the 2015/16 season. Average Average Ten year Year Opened/ House Price House Price % Club Stadium first Occupied 2005(£) 2015 (£) Change Chelsea Stamford Bridge 1905 476,101 1,103,398 132% Arsenal Emirates 2006 360,902 828,537 130% Manchester City Etihad1 2003 49,122 107,736 119% Tottenham Hotspur White Hart Lane 1899 191,371 364,289 90% Crystal Palace Selhurst Park 1925 167,599 251,918 50% West Ham United Upton Park 1904 176,490 254,075 44% Bournemouth Dean Court 2001 214,245 290,415 36% Watford Vicarage Road 1922 208,419 263,637 26% Norwich City Carrow Road 1935 144,100 180,724 25% Manchester United Old Trafford 1910 138,136 166,674 21% Sunderland Stadium of Light 1997 82,472 99,195 20% Stoke City Britannia 1997 94,506 111,350 18% Swansea City The Liberty 2005 102,622 118,197 15% King Power Leicester City Stadium 2002 161,600 181,398 12% Everton Goodison Park 1892 62,613 68,883 10% Liverpool Anfield 1884 62,613 68,883 10% West Bromwich Albion The Hawthorns 1900 119,444 129,333 8% Aston Villa Villa Park 1897 90,378 96,342 7% Southampton St Mary's 2001 190,975 195,433 2% Newcastle United St James' Park 1892 181,322 121,978 -33% Premier League Average2 175,670 312,104 78% England and Wales 182,899 262,387 43% Sources: Halifax, Land Registry 1Previously used as an athletics stadium 2Average of the 19 postal districts encompassing the 20 Premier League teams weighted by the number of property sales. HALIFAX PRESS TEAM: Shelley Dickinson: 020 7356 1405 / 07766 924 450 [email protected] Ben Marquand: 020 7356 1838 / 07881 311 199 [email protected] Clare Mortimer: 020 7574 8648 / 07768 541 555 [email protected] 4 30/07/2015 Table 2 – Home affordability in the postal districts of the 20 Premier league team stadia for the 2015/16 season. House Prices as a multiple of Club House Price 2015 (£) Average Earnings1 Chelsea 1,103,398 21.3 Arsenal 828,537 15.5 Tottenham Hotspur 364,289 9.8 Bournemouth 290,415 9.5 West Ham United 254,075 8.4 Watford 263,637 7.2 Leicester City 181,398 7.0 Crystal Palace 251,918 7.0 Southampton 195,433 6.9 Norwich City 180,724 6.5 West Bromwich Albion 129,333 5.1 Manchester United 166,674 4.4 Stoke City 111,350 4.2 Swansea City 118,197 4.2 Newcastle United 121,978 3.9 Sunderland 99,195 3.7 Manchester City 107,736 3.6 Aston Villa 96,342 3.3 Everton 68,883 2.3 Liverpool 68,883 2.3 Premier League Average2 312,104 9.6 England and Wales 262,387 8.3 Sources: Halifax, Land Registry, ONS 1Average house price divided by average annual gross earnings for full-time employees in the relevant local authority district.
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