Home prices near football grounds rise 14%

Value of property near Easter Road increases the most'over past decade. Picture: TSPL
Value of property near Easter Road increases the most'over past decade. Picture: TSPL
0
Have your say

Analysis on the eve of the new football season has found the average house price close to Scottish Premiership grounds has increased by 14 per cent in the past decade.

Hibs are top of the table with an average house price of £218,734 – more than double Celtic and Rangers – while newly-promoted St Mirren are bottom in the Bank of Scotland analysis.

Overall, there has been an average increase of £18,285 from £134,518 in 2008 to £152,803 this year despite a decrease in average prices near five stadiums.

Despite the overall increase, it remains considerably cheaper to buy a home near a Premiership football stadium than in the rest of Scotland where the average price is £175,866.

The analysis took account of average house prices in the same postal district as each stadium.

Graham Blair, mortgages director at Bank of Scotland, said: “Living next to a Scottish Premiership ground will always hold appeal for loyal fans. However... Hibs fans will need considerably more than Celtic or Rangers fans for a home where they can hear the matchday buzz.

“Football will always be well- loved in Scotland and given that house price rises near some of our Premiership stadiums have far outstripped house prices in the rest of the country, it seems that those who live near the stadiums at the moment could be in luck if they ever decided to move home.”

Properties close to the grounds of Motherwell, Hamilton and Hibs have seen the biggest hike in value over the past decade, with all having seen increases of 23 per cent to respective average prices of £148,274, £140,158 and £218,734.

Celtic, Rangers and St Mirren are the only Premiership grounds where nearby average house prices are under £100,000.

Homes close to St Mirren’s stadium have seen a 14 per cent drop in the average cost to £86,607 – the same percentage as homes near Celtic Park where the average price now stands at £97,810.

Homes near Rangers’ Ibrox Stadium have fallen in average value by 8 per cent to £88,572 in the past decade.

Properties in the same postal district as Hearts’ Tynecastle stadium have seen average prices rise by 17 per cent to £179,718 in a decade, while Livingston has seen a 15 per cent rise to £164,139.

St Johnstone has experienced a 9 increase to £161,608, and Kilmarnock saw a 7 per cent surge to £123,267.

Average prices around Dundee’s stadium fell 2 per cent to £114,068, while Aberdeen saw a 7 per cent drop to £138,045.