House prices soar outside Scotland’s top football grounds

Homeowners who live near stadiums belonging to Scottish Premiership football teams are are experiencing a property boom, according to new figures.

The data from the Bank of Scotland shows that the prices of homes situated in close proximity to some of the nation’s most famous locations have increased by almost a third over the course of the last decade.

The average value of properties close to top flight stadiums has risen by £31,401 – from £100,563 in 2006 to £131,964 in 2016, according to the research, the equivalent to a weekly rise of £60.

The increase is significantly higher than the 20 per cent increase in average house prices across Scotland over the same period.

The research showed Inverness Caledonian Thistle come out top of the Sottish Premiership house price league table, with average values near their Tulloch Caledonian Stadium increasing 90 per cent, from £122,685 to £233,664.

On the other hand, Ibrox, home of Glasgow Rangers, is the only stadium to record a decline in prices over the past decade.

But the G51 postal district is the most affordable, with the price of a typical property falling by seven per cent, from £85,553 in 2006 to £79,730 this year.

In contrast, homeowners living near Celtic Park, which has also enjoyed the benefits of investment as a result of the Commonwealth Games, have seen the average price rise by almost half, from £79,718 to £117,525.

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.

“There is also a strong correlation between house price performance and results onthepitch–fouroutoflast season’s top six also appear in the top six of the house price performance table.

“Rangers will be hoping that performance on the pitch won’t mirror performance in the house price table.”