Price rise of homes near top football grounds ‘significantly higher’ than rest of country

The price of homes close to Scottish Premiership grounds have increased by almost a third in ten years, significantly higher than the 20 per cent increase in house prices across Scotland as a whole.

Research by Bank of Scotland shows the average value of properties close to top flight stadiums has risen from £100,563 in 2006 to £131,964 in 2016. The £31,401 increase is equivalent to a weekly rise of £60.

The average price for a home in the surrounding postal districts of the 12 clubs contesting the Scottish Premiership for 2016/17 is £131,964 – a third (£37,035) lower than the average for the whole of Scotland (£169,000).

Homes near newly promoted Rangers’ Ibrox Stadium are the most affordable of all Scottish Premiership homes, with the price of the typical home just over double (2.5) gross annual average earnings. This is in stark contrast to homes based in rivals Celtic G40 postal district, where the house price to earnings ratio is 3.7.

Inverness Caledonian Thistle has the least affordable Scottish Premiership postal district with the average property price being more than 7.5 times annual gross average earnings in the area. St. Johnstone (4.7) is in the second least affordable postal district, followed by Partick Thistle (4.4).

The biggest increases in value have been seen in properties close to Caledonian Stadium where the average home value has risen by 90 per cent over the decade, from £122,685 in 2006 to £233,664 in 2016.

Areas around Aberdeen’s Pittodrie Stadium have seen the second biggest increase with a rise in average property prices of 76 per cent (from £90,878 to £160,262). Dens Park has seen the third biggest rise in property prices in the area close to their ground in Dundee during the past ten years with an increase of 54 per cent from £77,883 in 2006 to £120,223. Scottish Premiership champions Celtic, come in fourth with an increase of 47 per cent.

Ibrox is the only stadium to record a decline in prices over the past decade.

Nicola Noble, mortgage director at Bank of Scotland, said: “Playing in the Scottish Premiership 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 Scotland’s top clubs have seen price rises that far outstrip Scotland as a whole.

“There is also a strong correlation between house price performance and results on the pitch–four out of last season’s top six also appear in the top six of the house price performance table.

“Rangers will be hoping that performance on the pitch won’t mirror performance in the house price table.”