Wembley prepares to celebrate the 10th anniversary since officially re-opening on 19th May; those living closest to the iconic stadium are the winners with 71 per cent growth in house prices.
New data from Halifax reveals that the average house prices in the six postal districts that surround Wembley Park in Harrow and North West London have risen from £259,979 in February 2007 to £445,545 in February 2017 – an increase of 71 per cent or £185,566, equivalent to a monthly rise of £1,546.
This is more than four times the rate of increase seen in the UK; nationally property prices grew on average by 22 per cent over the same period – from £203,842 to £247,676.
In the 10 years since Prince William formally opened the new Wembley, the average price in all six areas has risen by over £148,000.
Willesden (NW10) is the area closest to Wembley with the greatest rise in average house prices with a growth of 94 per cent from £272,063 in February 2007 to £528,996 in February 2017 (£256,934 in cash terms) – the only district to outpace the rest of London.
Martin Ellis, Halifax housing economist, said: “The Wembley area has undergone a great deal of regeneration over the past 10 to 15 years with the new stadium formally opened by HRH Prince William at the 2007 FA Cup Final.
“The regeneration programme is still ongoing, with Wembley named as one of the London Mayor’s housing zones and calls for a Crossrail link to be extended to the area.
“As a result, businesses and households have been attracted to the area and more recently, average house prices surrounding the Wembley Park have outpaced the rest of London and the UK overall.”
Wembley area house prices in the past five years outgrow the rest of London.
Over the past five years, the average house prices in the six Wembley postal districts has grown by 45 per cent from £306,233 in February 2012 to £445,545, versus 40 per cent for Greater London.
Five out of the six districts have outpaced the London growth with Harrow HA3 recording the greatest growth of 54 per cent from £301,639 in February 2012 to £465,250 in February 2017, followed by Wembley HA0 (53 per cent).