Hibs edge Hearts as prices soar for homes near Scottish grounds

Albion Place and St Clair Street with Easter Road Stadium in the background. Picture: Greg Macvean

Bank of Scotland research states homes in the Easter Road area are priced the most expensive compared to property close to the 11 other Scottish top flight grounds.

The EH7 postcode will see a housebuyer having to pay an average price of £218,724 – more than double the average price in the least expensive Scottish Premiership postal district of PA3, home to St Mirren, where the average house price is just £86,607.

The tables have turned for the Old Firm clubs who complete the bottom three with properties near Celtic park dropping by 14 per cent to £97,810 and homes near Ibrox falling by 8 per cent to £88,572 in the past decade.

These three stadiums are the only Premiership grounds in Scotland where average house prices are under £100,000.

Properties close to Fir Park (Motherwell), Hope CBD Stadium (Hamilton Academical) and Easter Road have seen the biggest hike in the value over the past decade, with all having prices soar by 23 per cent. The average home value in these postal districts has risen by £28,069, £26,479 and £40,897 respectively since 2008.

Areas surrounding the home of Hearts, Tynecastle, have seen the next biggest rise of 17 per cent in the average property price from £154,054 to £179,718.

Graham Blair, mortgages director at Bank of Scotland, said: “Living next to a Scottish Premiership ground will always hold appeal for loyal fans. However, some supporters will need to fork out more than others to live near their team’s home ground. For example, Hibs fans will need considerably more than Celtic or Rangers fans for a home where they can hear the match day buzz.”

The research suggests average house prices close to Scottish Premiership grounds have risen by 14 per cent over the past 10 years. This represents an average increase of £18,285 in the past ten years.

However, it has been revealed that it is still considerably cheaper to buy a home near to a Premier League football ground south of the border.

As well as the benefit to avid football fans of living close to their team’s ground, house prices near Scottish Premiership stadiums are substantially lower than the rest of the country.

Homebuyers can bag themselves a home near to one of the 20 Premier League stadiums for £152,803 on average.

Despite being lower than the national average, house prices near football stadiums are on the rise. The 14 per cent rise over the last decade is significant as house prices across Scotland as a whole since 2008 have fallen by one per cent.

Mr Blair added: “Football will always be well-loved in Scotland, and given that house price rises near some of our Premiership stadiums have far outstripped house prices in the rest of the country, it seems that those who live near the stadiums at the moment could be in luck if they ever decided to move home.”