West Ham top the housing premier league
The football season has only just begun, but one title has already been taken by West Ham United – winner of the 2016 Nationwide Housing Premier League.
The league, in its fourth year, is based on the annual percentage change in house prices for the local authority containing each team’s stadium and shows West Ham take the title by one percentage point over Tottenham Hotspur in second. For the second successive season, Crystal Palace and Watford finish in the top four.
According to the mutual, Newham, which is home to both West Ham United’s old Upton Park ground as well as its new base at the Olympic Stadium, saw house prices rise by 21% 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% increase over the same period, falling nine places on the ‘House Price Premier 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 by £4,518 between May 2015 and May 2016 (6%). Middlesbrough saw house prices fall 1% over the year.
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 12% house price growth this year, pulling ahead of its Manchester City neighbour.
Despite Leicester City winning the football Premier League, it could only manage seventh place based on annual house price growth in the city, with an average house price of £146,038, up 9% on the previous year.
Andrew Harvey, senior economic analyst at Nationwide, said: “The 2015-16 season has proved to be one for firsts both on and off the pitch – Leicester City winning its first ever league title and, now, West Ham coming top of the ‘House Price Premier League’ for the first time in the league’s history.
“Our latest House Price Index continues to highlight how regional disparities are continuing to grow. 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.”