Why Swansea Conveyancing Solicitors think Swansea City's promotion could herald local property price increases.
Will Swansea City's rise to the Premier League boost property prices near the Liberty Stadium? Unlikely as it might seem to some, recent research by the Halifax confirms the opinion of Solicitors Conveyancing in Swansea that house values in the vicinity of this modern ground have actually risen significantly higher than elsewhere.
The research is based on figures for transactions completed by Solicitors Conveyancing in Swansea and registered by the Swansea land registry office. The report shows that the rise for properties near the Liberty was 140% over the last ten years, while the average rise in England and Wales was 113 % over the same period.
This rising trend should continue following the promotion of Swansea's football team, but it seems that this could be assisted by the fact that the stadium being a modern one, having opened in 2005. The Liberty Stadium is a world-class multi-use sporting venue which is also home to the Swansea Ospreys rugby team and hosts conferences and other events.
The report by the Halifax tracked house prices in the postal districts of the top 20 clubs, based on data from the land registry, and noted a correlation between values and the age of the club's ground. Suren Thiru, housing economist, Halifax, said:
“In general, house prices in the areas that are home to many of the our major football venues have strengthened significantly over the past decade, reflecting in part the amenities commonly found in such locations, including good transport links. The improvement has been particularly marked in the postal districts of some of the newest football stadiums with the local regeneration often associated with such projects helping to boost local property values. ”
Solicitors Conveyancing in Swansea are aware that recent years have seen a dip in the amounts that local homes are selling for, but the land registry’s last figures show something of a resurgence in the Swansea area generally since April. It would seem that buying a house near the ground could prove a good investment for the future.
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