Proximity to Premiership Football Grounds Impacts Prices

New research by Bank of Scotland has revealed that average house prices close to Scottish Premiership football grounds have increased by 20% over the last ten years.

 

This represents an average increase of £24,811 during the past decade; from £121,237 in 2007 to £146,048 in 2017, equivalent to a weekly rise of £48.

 

This increase is significantly higher than the 6% rise recorded in house prices across Scotland as a whole since 2007.

 

The biggest increases in value have apparently been seen in properties close to Aberdeen’s stadium, Pittodrie. The average home value in this postal district has risen by 37% over the decade, from £110,286 in 2007 to £151,273 in 2017. This is despite a 6% fall in prices in the area over the past year.

 

Areas around Easter Road, home to newly promoted Hibernian, have seen the second biggest increase with a rise in average property prices of 29% (from £160,002 to £205,626). Fir Park (Motherwell) has seen the third biggest rise in property prices with an increase of 23% from £107,170 in 2007 to £132,265, followed by New Douglas Park (Hamilton Academical) with an increase of 21%.

 

However, last year’s title winners Celtic have finished bottom of the Scottish Premiership house price table, with the average value of properties close to their home ground falling by 17% between 2007 and 2017.  The only other stadium to record a decline in prices over the past decade is fellow Glasgow side Rangers (-2%). Partick Thistle (5%) and Kilmarnock (8%) were the next poorest performers.

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