If the Premier League were decided by house prices, West Ham would win the league, reveals new research from Nationwide.
The league, now in its fourth year, is based on the annual percentage change in house prices for the local authority containing each team’s stadium. While teams such as Manchester United, Manchester City, Liverpool and Arsenal will be hoping to take home the real life trophy, it is plucky West Ham who snatch the 2016 housing title, according to the lender’s figures, pipping Tottenham Hotspur to the top spot by just one percentage point.
Newham, which is home to both West Ham United’s old Upton Park ground as well as its new base at the Olympic Stadium (pictured above), saw house prices rise by 21 per cent over the 12 month period to May 2016. The City of Liverpool, home to both Everton and Liverpool FC, didn’t fare as well, however, with only a 2 per cent increase over the same period, falling nine places in the league compared with 2015.
Two of the three newly promoted teams were the only ones to experience negative house price growth. Newly promoted Burnley finished bottom of the table, with house prices falling in the area of Burnley by £4,518 between May 2015 and May 2016 (6 per cent). Middlesbrough saw house prices fall 1 per cent over the year.
Although Leicester City won the football Premier League in 2015, it does not rank as highly in the House Price Premier League, finishing only seventh based on annual house price growth in the city. With an average house price of £146,038, Leicester is 81 per cent cheaper than Hammersmith & Fulham, home of Chelsea’s Stamford Bridge Stadium, the most expensive area in the league with an average house price of £783,686.
The biggest gainers this year include Manchester United, which jumped 13 places to fifth place. Coming back from threatened relegation last year, the area of Trafford saw a 12 per cent house price growth this year, pulling ahead of its rival blue neighbour.
For the second successive season, Crystal Palace and Watford finish in the top four.
“Our latest House Price Index continues to highlight how regional disparities are continuing to grow,” comments Andrew Harvey, Senior Economic Analyst at Nationwide. “In fact, it remains the case that the pace of house price growth tends to decline as you move from the south to the north of the country. This disparity is also noticeable in our House Price Premier League with London at the top and the Northern clubs propping up the table.”
“While it’s no surprise to see London clubs top the house price table for each of the last four years, it is interesting to see all four corners of the capital have now won Nationwide’s annual accolade,” he adds.