The Courier & Advertiser (Fife Edition)
Homeowners score as prices rise near stadium
Value of homes next to McDiarmid Park up 9% in decade
Putting up with crowds and noise on match days has paid off for homeowners near McDiarmid Park as house prices have jumped by 9% in the last decade.
While the value of homes near other Premiership teams have plummeted, the average price around St Johnstone’s stadium is now £161,608 — around £13,000 more than in 2008.
The jump comes as house prices nationally have dropped 1% in the last 10 years.
Despite the increase, house prices around the Fair City’s football club are around £14,000 lower than the average Scottish property, which sells for £175,866.
The boom may be in part due to widespread development in the area, including hundreds of new homes and a bypass.
Neighbouring Dundee fared badly, with house prices around Dens Park dropping 2% in the last decade.
They are now worth £114,068, compared to £116,986 10 years ago.
The winners in the house-price league table are homeowners near Hibernian’s Easter Road, which are now worth £218,734, up 23% compared to 2008.
Graham Blair, mortgages director at Bank of Scotland, said: “Living next to a Scottish Premiership ground will always hold appeal for loyal fans.
“However, some supporters will need to fork out more than others to live near their team’s home ground.
“Football will always be well loved in Scotland and given that house price rises near some of our Premiership stadiums have far outstripped house prices in the rest of the country, it seems that those who live near the stadiums at the moment could be in luck if they ever decided to move home.”
Homeowners near the stadiums of both sides of the Old Firm are losers in the property game as prices near Ibrox dropped by 8% to just £88,572 while Parkhead dwellers had a 14% drop in the value of their homes, which are now worth £97,810
“Some supporters will need to fork out more than others to live near their team’s home ground. BANK OF SCOTLAND MORTGAGES DIRECTOR GRAHAM BLAIR