As the Six Nations rugby championship gets under way Twickenham has emerged as London’s strongest-performing sporting location for house price growth, according to new research from Foxtons.
Analysis by the estate agency of house price data across postcodes surrounding 10 of the capital’s major sporting venues shows that homes near Twickenham Stadium (main picture) recorded annual growth of 3.2% – the highest increase of any venue reviewed.
Foxtons compared locations ranging from Wimbledon and Lord’s to Wembley, the O2 Arena and the Emirates Stadium, assessing both current average values and how prices have shifted over the past year.
While Wimbledon remains the most expensive sporting postcode analysed, with average house prices of £1.431m, it also saw the sharpest annual decline, with values in the SW19 5 postcode falling by 5.4% over the last year.
BAT AND BALL
London’s historic cricket grounds continue to command high prices, with average values of £872,393 around Lord’s in NW8 8 and £765,072 near The Oval in SE11 5.
However, price growth has been muted, with Lord’s recording a modest 1.4% annual rise and The Oval seeing a 1.8% fall. Wembley Stadium was one of only three venues to post positive growth, edging up by 0.2%.
By contrast, the strongest performance came from the home of England rugby. The TW1 7 postcode, which includes Twickenham Stadium, the Stoop and Premiership side Harlequins, saw house prices rise by 3.2% over the year. Average values in the area now stand at £619,162, making it the fourth most valuable sporting location analysed, behind Wimbledon, Lord’s and The Oval, and ahead of areas surrounding the O2 Arena and Emirates Stadium.
SPORTING CHANCE
Guy Gittins, CEO of Foxtons, says: “London is home to a wealth of world-class sporting venues and, as you would expect, properties within close proximity tend to command strong market values as a result.
“However, over the last year, many of these locations have seen a marginal price correction, which reflects a more cautious approach from buyers in what was a more uncertain year for the London property market.
“With the market now stabilising this side of the Autumn Budget, the outlook for the year ahead is far more positive and sellers surrounding London’s iconic sporting venues are likely to see values strengthen once again.
“Unless, of course, you live close to Twickenham, as the chances are you’re probably already in a very strong position to sell versus this time last year.
“Not only does it rank as the fourth most valuable sporting venue analysed in terms of current market values but it has also delivered by far the strongest rate of house price growth over the last year – a good omen for the Six Nations, perhaps?”
