Penny Lane: Premier League footballers could almost buy a house per game in Liverpool
03 August 2018
On average, a Premier League player nearly makes enough per game to buy a house near Anfield or Goodison Park
Fulham joins Chelsea as having the most expensive Premier League homes
House prices near White Hart Lane almost double in 10 years
To mark the start of the 27th Premier League season, new research from Halifax has revealed that, on average, a Premier League player earns almost enough every game (£69,540) to buy a house near the grounds of Liverpool or Everton, where the average house price is £78,093.
At the other end of the spectrum, players would need to save up for almost half the season to scrape together the £1,111,986 needed to buy in the surroundings of Stamford Bridge or Craven Cottage. However, with an annual salary of £4,451,200, the average Chelsea player could move next door to the stadium after just 13 weeks. In stark contrast, with an average annualsalary of £63,361, it would take locals almost 18 years (17.6) to earn enough to be able to buy the same home. (Table 1)
When it comes to house price growth, Tottenham Hotspur are once again the run-away champions. Since 2008, average local house prices have rocketed by 94% to £481,609. North London rivals Arsenal’s position in the Premier League has been matched by local house prices, with an increase of 60% over 10 years also putting them sixth in our table. (Table 2)
Russell Galley, managing director Halifax said:
“As clubs gear up for the start of the 27th Premier League season, it appears that for many, success on the field has rubbed off as property prices in the areas surrounding the grounds of England’s top flight clubs have risen ahead of the rest of the country.
“While football may not be coming home, many players looking to buy a house near their team’s stadium need just a few games to earn the equivalent of the average house price. Locals living nearby some grounds, such as the Emirates, have benefitted from the associated infrastructure improvements as clubs upgrade or move stadiums.”
House prices near Premier League clubs up by half in last decade
The average house price near Premier League clubs has risen by £127,451 (47%), from £273,917 in 2008 to £401,457 in 2018. This figure is well ahead of the rest of the UK, where house prices have increased by £66,194 on average – an increase of 30%.
While clubs from the North may have dominated the top four last season, when it comes to house prices they are lagging behind the rest of the country. Since 2008, only four clubs have not seen growth in house prices. Those living near St James’ Park have seen prices fall by 14%, from £187,470 to £161,335, whilst on Merseyside homes near Everton and Liverpool have dropped by 11% to £78,093. No clubs outside London and the South have seen increases ahead of the national average of 30%.
Unsurprisingly, London-based clubs have seen the biggest increases. Behind Tottenham Hotspur, Crystal Palace has seen the second biggest increase as prices have gone from £208,348 in 2008 to £351,924 in 2018 (69%). Chelsea and Fulham, which share a postal district, have increased by two thirds (66%) to £1,111,986.
House price growth stalls since 2013 at Premier League clubs
However, when looking at the last five years average prices of homes close to Premier League clubs have only grown by £11,687 (3%) – slower than the rest of England and Wales, which has risen by £46,954 (19%). For Crystal Palace, promotion to the Premier League in 2013 has also seen its house prices soar to £351,924 and growth of 79% sits them top of our table. (Table 3)
While 2017/18 may have been a season to forget for supporters of Manchester United as Manchester City cruised to the title, those living in the shadow of Old Trafford saw the value of their homes increase by 13% over the year. Bournemouth (10%) and Newcastle United (9%) complete a top three of teams based outside of London. (Table 4).
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1 Halifax Premier League Grounds Review tracks house price movements in postal districts of the 20 football clubs that will be competing in the 2018-19 Premiership League season. Liverpool and Everton football clubs (L4) share the same postal districts. Chelsea and Fulham football clubs (SW6) also share the same postal districts.
House price data is from the Land Registry and all price figures refer to the arithmetic average of house prices. The data covers the 12 months to April for the period between 2008 and 2018. These prices are not standardised and therefore can be affected by changes in the sample from year to year.
Details of the 20 Premier League grounds have been sourced from official club websites.
Data produced by Land Registry © Crown copyright 2018.
"This report is prepared from information that we believe is collated with care, however, it is only intended to highlight issues and it is not intended to be comprehensive. We reserve the right to vary our methodology and to edit or discontinue/withdraw this, or any other report. Any use of this report for an individual's own or third party commercial purposes is done entirely at the risk of the person making such use and solely the responsibility of the person or persons making such reliance." © Bank of Scotland plc all rights reserved 2018.