A high profile agency has set out the investor advantages of letting properties near major UK sporting venues.
Foxtons analysed current market data on both rental and house price values across 14 postcodes home to a major London sporting venue, revealing the yield on offer to buy-to-let investors and how this yield compares to the wider borough.
The average rental yield found across the 14 postcodes comes in at 4.8%. This is 0.5% higher than the average rental yield of 4.3% found across the 14 wider boroughs in which the venues are found.
At 6.9%, Lord’s Cricket Ground boasts the strongest performance versus the wider borough, with the average rental yield coming in 3.1% higher than the 3.8% across Westminster as a whole.
In a close second the Oval Cricket Ground currently offers up an average yield of 6.8%, some 1.9% higher than the wider borough of Lambeth, whilst Tottenham Hotspur Stadium takes bronze with an average yield of 6.5%, sitting 2.1% above the wider average in Haringey.
Wembley Stadium and Crystal Palace also rank high when it comes to highest sporting venue yields at 5.5% and 5% respectively.
While the average yield may be lower around Twickenham Stadium at 4.7%, it sits 1.5% higher than the wider borough of Richmond, with only Lord’s, the Oval and Tottenham Stadium outperforming their wider boroughs by a greater margin.
Foxtons chief executive Guy Gittins says: “We’re now seeing a range of foreign imports such as the NFL, NBA and MLB make London a permanent fixture in their sporting calendars. This has led to a great deal of ongoing investment into major sporting venues and as well as the facilities themselves, this brings many additional improvements to the surrounding area and the local infrastructure.
“This benefits both the housing and rental markets, helping to boost supply and demand, which in turn ensures a strong rate of house price growth and superior yields for buy-to-let investors.”
