Homes near EPL clubs get price boost

Spurs fans gathering at White Hart Lane for the EPL showdown between Tottenham Hotspur and Arsenal on March 5.
Spurs fans gathering at White Hart Lane for the EPL showdown between Tottenham Hotspur and Arsenal on March 5.PHOTO: AGENCE FRANCE-PRESSE

Tottenham top this league, with nearby home prices chalking up 18.4% annual rise

Seeing your team struggle in the English Premier League (EPL) might be painful, but fans with some investment dollars to spare could score some consolation by buying property near their favourite clubs.

A Knight Frank report shows that growth in house prices can be strong in areas near these clubs.

The new study, released last week, assessed prices around the home grounds of 20 EPL clubs and found what seemed to be an upswing in those of nearby homes.

Tottenham Hotspur fans have seen the league title challenge falter in recent weeks, but they can take home a consolation prize - prices for homes near White Hart Lane stadium rose by 18.4 per cent in the 12-month period ended Dec 31.

Asia-Pacific research head Nicholas Holt at Knight Frank Asia Pacific said regeneration plans for North London were a key factor. He cited Crossrail 2, a proposed rail route linking the city's north and south.

East London-based West Ham United, which did surprisingly well this year by pushing European qualification, also performed strongly on the property front. Prices of nearby homes were up 13.2 per cent - the second-fastest rise last year. London overall averaged 11.3 per cent.

Watford claimed third place, with prices there up 10.6 per cent, while Crystal Palace came in fifth with 9.2 per cent - not bad for clubs that flirted with relegation this season.

Prices around Central London clubs posted slower growth.

Values around Arsenal's Emirates Stadium in Islington rose 5.6 per cent - a poor showing that mirrored a disappointing football campaign.

For Chelsea, which seem to be having a rough time on and off the pitch, prices grew 3.9 per cent.

Still, prices near both of these clubs fared better than prices in the prime Central London area, where growth averaged 1 per cent.

Even so, homes near clubs do not always perform better than average, said Mr Holt, adding: "The relationship between being near a football club and regeneration is debatable."

He said stadium owners are looking to maximise revenue streams through events such as concerts. The redevelopment of a stadium as "a more general entertainment complex and a potential cornerstone of the community" could be integral to the area's improvement.

Champion Leicester City's fans have another reason to cheer as house prices in the area could rise.

"The local economy can expect a marginal boost following the Premier League win as the city's profile is raised and money from Europe's elite football competition floods in," said senior analyst Oliver Knight at Knight Frank Residential Research.

A version of this article appeared in the print edition of The Straits Times on May 16, 2016, with the headline 'Homes near EPL clubs get price boost'. Print Edition | Subscribe