Should You Put Your House on the Races?

Should You Put Your House on the Races?
4th April 2016 admin_rooster

Should You Put Your House on the Races?

Research from Hatched shows that a home located near a racecourse can outperform properties in the wider local area.

With this week’s Grand National sure to see some big wins for punters, racegoers in the black come Saturday evening may be interested to know where they will get the best property bang for their buck near the UK’s greatest racecourses.

Hatched has analysed house prices around ten top racecourses across the UK to investigate if close proximity to a racecourse increases the value of a home compared with the wider local area.

RacecourseCurrent Average (Racecourse vicinity) – £Current Average (Local area) – £5 year price change (HSOA) – %5 year price change (LA) – %
Ascot671,523497,4314132
Aintree132,248159,136-5-1
Cheltenham301,368259,8230.2517
Chester113,910203,66127
Doncaster116,986131,15625
Epsom565,717428,4484033
Goodwood438,404416,9152223
Haydock189,230131,050-71
Newmarket224,205199,0602821
York268,928235,9681618

Of the ten racecourses featured, there is generally a positive impact on house prices, with seven of the ten showing higher house prices in the vicinity of the racecourse compared with the wider local area.

Properties close to Ascot Racecourse enjoy average prices of over 35% higher than the £497,431 average in the Windsor & Maidenhead area, whilst another of the Queen’s favourite racecourses, Epsom, shows house prices on the fringes of the venue over 32% higher than the £428,448 average in the wider area.

The dark horse of this study was Haydock, which enjoys average property prices 44% higher than the wider St. Helen’s area average of £131,050.

At the other end of the scale was Chester, where average home prices were 44% lower near the racecourse, compared with the Chester area as a whole. Aintree (17% lower) and Doncaster (11% lower) were the other racecourses found to be detrimental to a home’s value, revealing a North-South divide only bucked by Haydock and York.

When looking at price changes over the past five years the Grand National’s venue, Aintree (-5%) and close-by Haydock (-7%), are the only racecourses to see local property prices fall, far outstripping the average price changes for the wider Seaton (-1%) and St. Helen’s (+1%) areas respectively.

Perhaps, unsurprisingly, the property hotspots of Ascot (+41%) and Epsom (+41%) vastly outperformed the local areas Windsor & Maidenhead (32%) and Epsom (33%).

Newmarket (+28%) too, saw significant price rises in comparison with the wider Forest Heath (+21%) average and interestingly, Cheltenham, with price rises of just 0.25% over the past five years, could be the first of the southern racecourses to see property prices decrease following the controversy of this year’s Cheltenham Festival.

Adam Day, Managing Director at Hatched, said: “As well as providing a reflection of the nationwide property market, we’ve found here that the more upmarket and select a racecourse, the higher the property prices and rises, as the case has been with Ascot, Epsom and Newmarket. Haydock, Aintree and Cheltenham, more renowned for their drinking culture and risqué outfits, are where prices have struggled to keep up with either local averages or rises. Local homeowners will want to encourage those particular racecourses to keep their standards high in future years.”

For more information on selling a home with Hatched visit www.hatched.co.uk or call 0333 999 7699.

-Ends-

Notes to editors:
The ten racecourses (name and HSOA code) analysed are:
Aintree (Seaton 027); Ascot (Windsor & Maidenhead 017); Cheltenham (Cheltenham 002); Chester (West Cheshire & Chester 010); Doncaster (Doncaster 019); Epsom (Epsom 009); Goodwood (Chichester 006); Haydock (St. Helen’s 009); Newmarket (Forest Heath 007); York (York 021).

Data source: Office for National Statistics HPSSA Dataset 3a1, Mean House Price by MSOA, Q2 2010 to Q2 2015.

For further press information, please contact:
Kevan Barber/Libby Allan
Rooster PR
T: +44 (0)20 3440 8930
E: [email protected]

About Hatched
Launched in 2006, Hatched is one of the original pioneers of the online estate agency model and one of the UK’s leading online estate agents.  Hatched offers a full estate agency service and a smart way to sell your home combining the highest level of service with nationwide coverage.

Hatched’s use of technologies drives efficiencies in procedures and processes, the ability to offer a range of innovative marketing packages, an enhanced client experience and streamlined customer services.

Hatched is a subsidiary of the Connells Group (www.connellsgroup.co.uk), one of the UK’s largest and most successful estate agency and property services groups.

To find out more, visit www.hatched.co.uk or call the team on 0333 999 7699.