Homeowners living close to Scottish Premiership stadiums have seen the value of their homes rocket, a new study suggests.
According to the Bank of Scotland, properties based close to the grounds of teams in Scotland’s top flight have increased in value by almost one-third.
In the past decade, the average property near Premiership stadia has increased by 31%, representing an increase of £31,401 between 2006 and 2016.
Intriguingly, this increase is significantly higher than the 20% rise recorded in house prices across Scotland as a whole over the decade.
The average house price for a home in the surrounding postal districts of Scotland’s 12 premier clubs has risen to £131,964.
Despite the lesser increase, the average Scottish home is still valued at £169,000.
The biggest increases in value has been seen in properties close to Caledonian Stadium, home to 2014/15 Scottish Cup winners Inverness Caledonian Thistle.
The average home value in this postal district (IV1) has risen by 90% over the decade, from £122,685 in 2006 to £233,664 in 2016.
Comparatively, property surrounding Rangers’ Ibrox Stadium is the most affordable, according to the publication.
Areas around Pittodrie, home to last season’s Scottish Premiership runners-up, Aberdeen, have seen the second biggest increase with a rise in average property prices of 76%
Dens Park has seen the third biggest rise in property prices with an increase of 54% from £77,883 in 2006 to £120,223 this year. Scottish Premiership champions Celtic come in fourth with an increase of 47%.
Commenting on the findings, Nicola Noble, mortgage director at Bank of Scotland said: “Playing in the Scottish Premiership in recent years appears to have rubbed off on property prices in the areas surrounding many of our leading teams’ grounds.
“In the last decade average house prices immediately outside some of the Scotland’s top clubs have seen price rises that far outstrip Scotland as a whole.
“There is also a strong correlation between house price performance and results on the pitch – four out of last season’s top six also appear in the top six of the house price performance table for the past decade, with the 2015 Scottish Cup winners Caley Thistle top of the pile.
“Newly promoted Rangers will be hoping that performance on the pitch won’t mirror performance in the house price table.”
