A New Stadium - and the impact on house prices!

An interesting little story from today’s Observer about the impact on house prices when a new football stadium is built nearby.

“The construction of a new football stadium is rarely a source of joy for those living nearby – but it appears they are wrong to think it will cut the value of their homes.

In a ground-breaking piece of research, two economists found the construction of a new stadium actually raises local property prices by as much as 15%.”

They concentrate on the Emirates and Wembley, but I wonder what some of the luddites and nimbys in Failsworth town would have thought if they expected their home values to increase by as much as 15%.

http://www.guardian.co.uk/business/2011/may/01/stadium-house-prices

 

Good link that mate. Someone needs to link it to Ruler of the Underworld, Alan Hardy.

 

I emailed Alan Hardy yesterday.