As Wembley Stadium celebrates its 10th anniversary this month and prepares to host the FA Cup final this weekend, it has been revealed that properties close to the stadium have enjoyed a huge boost in value.
Property prices in the six postal districts surrounding Wembley Park have grown by 71 per cent in the ten years from February 2007 to February 2017 according to research from the Halifax.
The average property price rise near Wembley stadium from £259,979 to £445,545 was far above the national average rise over the same ten year period of 22 per cent from £203,842 to £247,676.
The closest area to the stadium enjoyed the largest rise. In Willesden NW10 property prices rose by 94 per cent over the last ten years, from £272,063 in February 2007 to £528,996 in February 2017.
When considering the last five years from February 2012 to February 2017, property prices in the area also outgrew the rest of London.
Average property prices across Greater London rose by 40 per cent over the last five years, compared to 45 per cent in the six Wembley postal districts.
Property prices in Harrow HA3 performed the best of the six postcodes near Wembley over the last five years, showing an increase of 54 per cent over the period from £301,639 in February 2012 to £465,250 in February 2017.
Halifax housing economist, Martin Ellis, said: ‘The Wembley area has undergone a great deal of regeneration over the past 10 to 15 years with the new stadium formally opened by HRH Prince William at the 2007 FA Cup Final.’
He continued: ‘The regeneration programme is still ongoing, with Wembley named as one of the London Mayor’s housing zones and calls for a Crossrail link to be extended to the area.
‘As a result, businesses and households have been attracted to the area and more recently, average house prices surrounding the Wembley Park have outpaced the rest of London and the UK overall.’