15 August 2016
- Bad year for Merseyside: both Everton and Liverpool finish near the foot of the table
- Two of the newly promoted teams (Middlesbrough and Burnley) would get relegated
- Last season’s bottom team, Sunderland, moves up to 13th
- Spurs back in top four; Crystal Palace and Watford retain their top four places
With the new Premier League season kicking off on Saturday, West Ham has today been crowned champions of the annual Nationwide Building Society ‘House Price 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 stadium1 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.
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 per cent 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 two per cent increase over the same period, falling nine places on the ‘House Price Premier League’ compared with 2015.
From promotion to relegation
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 of Burnley by £4,518 between May 2015 and May 2016 (six per cent). Middlesbrough saw house prices fall one per cent over the year.
Champions to mid-table
Although Leicester City won the football Premier League, it does not rank as highly in the House Price Premier League, finishing only seventh based on annual house price growth in the city. With an average house price of £146,038, Leicester is 81 per cent cheaper than Hammersmith & Fulham, home of Chelsea’s Stamford Bridge Stadium, the most expensive area in our league with an average house price of £783,686.
2016 v 2015
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 a 12 per cent house price growth this year, pulling ahead of its Manchester City neighbour. The other big gainer was Tottenham Hotspur bouncing back from 12th place last year to second place this year. After a rocky year in 2015, the borough of Haringey is back to second place after having come first in 2014.
Andrew Harvey, Senior Economic Analyst at Nationwide, comments: "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. While it’s no surprise to see London clubs top the house price table for each of the last four years, it is interesting to see all four corners of the capital have now won Nationwide’s annual accolade.
"Our latest House Price Index2 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. This disparity is also noticeable in our ‘House Price Premier League’ with London at the top and the Northern clubs propping up the table."