Football a turn-off for buyers

Football may be the national game but it’s a big turn-off for home buyers, a survey by Propertyfinder. com reveals.

For the best valuations, cricket and tennis venues are the best. Famous cricket grounds are estimated to add 3.3% to property prices nearby. A property close to Lords cricket ground in London could be worth 2.8%, or 14,500 above the average 520,025 property in Westminster.

And being within two miles of Wimbledon adds about 20,000 to the 293,238 average property price in Merton. While there are concerns about traffic, almost 80% of estate agents find buyers are attracted to living in the area.

The exact opposite is the case with properties near football grounds. On average, homes within a mile of a football club are worth 1.8% less than similar properties further away. Chelsea FC’s Stamford Bridge and Fulham FC’s Craven Cottage are typical examples.

In Kensington and Chelsea, where the average house price is 744,340, a home within a mile of Chelsea FC is worth some 13,000 less than a similar property further away. And a home near Fulham FC is worth about 8,500 less than the average in the borough. Some 63% of agents near football clubs say buyers are concerned about properties too close to the venue, with half of buyers looking for property a safe distance away.

Jim Buckle, managing director of Propertyfinder.com, says: “Football may be the nation’s favourite sport but people don’t want it on their doorstep. Though match days are relatively infrequent, the crowds spoil residents’ enjoyment of their homes and this has a modest impact on prices. Cricket and tennis have different reputations and their supporters behave better.”