Tottenham Hotspur win property Premier League

Tottenham Hotspur may have missed out on the Premier League title but the local property market has claimed the house price growth crown.

The last year saw price growth of 18.4% in an area that could enjoy a real boost from Crossrail 2, the proposed rail link that would connect North and South London.

West Ham United, whose stadium is set to be redeveloped into a residential scheme as they move into the Olympic Stadium, saw the second highest price growth with a 13.2% increase.

Watford came third with 10.6% growth followed by Manchester City and Crystal Palace, tied at 9.2%. Next came Manchester United with 8.7% growth.

Chelsea are having a turbulent time both on and off the pitch, with the lowest residential price growth among the London-based clubs at 3.9%.

However, it boasts the highest mean house prices, with the average property around the ground costing £638,000.

That is more than 13 times the value of residential property around Goodison Park, home of Everton FC, which came bottom of the list.

Oliver Knight, senior analyst at Knight Frank Residential Research, which produced the figures, said the findings demonstrate the huge differences in value throughout the UK, and even within London, where prices are moving at different speeds.

Properties in the hometown of Premier League champions Leicester City have taken a long time to recover from the financial crisis, just 1.2% higher at the end of 2015 than their previous peak in 2007.

Knight said: “However, the local economy can expect a marginal boost following the Premier League win, as the profile of the city is raised and money from Europe’s elite football competition comes in.”

Average residential values around the King Power Stadium in Leicester stood at £127,000 at the end of 2015, following a respectable 6.6% price growth over the year, putting the city in seventh place.