How Is Football Affecting Manchester's Property Prices?
Football. The beautiful game. For many fanatic supporters worldwide, football plays an important part in their lives. Whether you’re a lifelong fan or a casual watcher who only tunes in to the big games, it’s hard to escape the influence of the world’s most popular sport.
That is common knowledge nowadays. What is less well-known, is the impact football has on its nearby environments.
To answer this question, look no further than Manchester; arguably football’s most dominant city today.
Home to perennial fan favourites Manchester Utd and reigning English Premier League champions Manchester City, the area is experiencing football fever at unprecedented levels.
Let’s take a more in-depth look at the effects this has on Manchester property.
Over the last 2-3 decades, the massive influx of cash into the game has completely changed the way football clubs are run.
In today’s cash-laden times, the game is played not only on the pitch but off it as well.
Teams are leveraging on technology to gain advantages even before the ball is kicked, focusing on sports science for better athletic performances, and developing state-of-the-art training complexes to maximize players’ potential.
These are expensive investments that require money. Lots of it.
Fortunately for the two Manchester clubs, both are currently flush with cash.
Manchester Utd due to their loyal fanbase all across the globe. Manchester City due to their billionaire Arab owner, and recent successes on the pitch.
And as they continue to develop their football infrastructures, more jobs are created, more revenue is generated, more success on the pitch follows, and more money can be re-invested back into the club to strengthen their positions.
It’s a success cycle that lesser clubs will find virtually impossible to break.
Because of this, Manchester clubs often find themselves under the media spotlight. This leads to increased exposure from overseas investors, who will perceive the area as highly investable.
In summary, the Manchester clubs’ successes on and off the pitch have contributed greatly to the area’s development, with even further growth set to follow in the years to come.
Based on research concluded in 2018, property prices around Old Trafford (Manchester Utd’s home stadium) rose by 6.1% compared to the previous year.
Properties there are worth around £235,708 on average, which is around 4% higher than the UK average of £225.021.
Property prices around the Etihad Stadium (Manchester City’s home stadium) also fared well. The average value increased by 3.8%, bringing the average price of a property to around £135,216.
For investors who purchased property in Manchester, those stats represent significant returns on their investments.
Based on current footballing trends, the best is yet to come.
With Manchester Utd showing no signs of losing its huge worldwide following (despite on the pitch struggles), and Manchester City set to become the dominant force in English Football in the years to come, property prices are set to rise even higher.
According to analysis by property experts, prices of Manchester homes are expected to increase by 57% by the end of 2028. This is the highest projection among all the major UK cities.
Even if you’re not a fan of either Manchester clubs, one thing is undeniable – The property in Manchester is primed for a major boom in the near future.
So before prices increase even further, do consider investing in Manchester’s growth. There are many properties considered undervalued right now, with high potential appreciation rates.
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