Homes around Stadium of Light shoot up in value!

Stadium of Light
Stadium of Light
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SUNDERLAND have scored the first derby win of the season over Newcastle – in the house price league.

Homes close to Premier League football grounds have increased their value at double the rate of those across the country over the last decade, a report has found.

House prices in the postal districts of the 20 clubs kicking off the 2013/14 season have risen by £353 a week on average over the last 10 years, according to research by Halifax.

The report found that homes near the Stadium of Light cost an average of £91,611 – a rise of 97 per cent during the past decade compared to a national average of 68 per cent – putting it at joint sixth in the league table alongside Everton and Liverpool.

But the report also put rivals Newcastle United bottom of the house price table, being the only area where house prices have fallen between 2003 and 2013.

The average value of properties close to St James’s Park slid by 11 per cent to £135,251.

The average house price in the 20 Premier League stadium postal districts is £319,800, which is one-third higher than that across England and Wales of £240,300.

Craig McKinlay, mortgage director at Halifax, said: “The boost to property prices in these areas partly reflects the local regeneration that typically takes place alongside the building of modern sporting arenas, including improved transport links. There are, however, significant variations in home prices around the nation’s leading clubs, with some supporters needing to pay far more to live near the ground of their favourite team than others.”

Halifax based its findings on Land Registry and official earnings figures.