The Ashes are well under-way and England have got off to a strong start having made 430 / 10 in their first innings, despite Root being dropped on 0. While England cricket fans will no doubt be enjoying the prospects of an Ashes win, UK home-owners should also be keeping an eye on proceedings.
Research from leading online estate agent, eMoov.co.uk, has found that an England Ashes win could benefit the potential profit of their property.
In the last 20 years England have only managed to win four of the last 11 Ashes Test Series, only one of which has been away on the Aussies own turf. Australia dominated the series for a decade from 1995 until England put their losing streak to rest in 2005, beating Australia 2-1 in the series overall.
Over the following year house prices in England and Wales increased by 7% to an average house price of £172,000. Property in the five venues that hosted each test also enjoyed an increase with house prices around the Oval in Lambeth up 15%, Manchester’s Old Trafford up 11%, Lords the home of English cricket up 15% and Trent Bridge in Nottinghamshire and Edgbaston in Birmingham also up 3%.
However English cricket and house price jubilation was short lived, with Australia beating England in the following Ashes Series in a five nil whitewash on their home turf. England had a long wait until hosting the next Ashes in 2009, during which point house prices in England and Wales fell -15% in just one year, a drop of £20,000+.
England then went on to win a hat trick of Ashes Test Series, dominating from 2009 to 2014. During this period house prices in England and Wales increased 9% over the four years, increasing the average house price to £192,000. Of the eight venues that were used during the three Ashes Test Series only two, the Riverside ground in Durham and Headingly in Leeds, saw house prices in that area drop during this period.
Since Australia reclaimed the Ashes last year house prices in England and Wales have continued to climb, however 2015 has seen this growth all but stall in a cooling market. Those looking to turn a profit on their property investments should be hoping for an England win, as historically it would seem to be just the kick start they need to see an increase in their property price.
Founder and CEO of eMoov.co.uk, Russell Quirk, commented:
“It would be great if something like a major sporting event could bring house price growth as a result. It would seem this may be the case, however it is most probably a coincidence. That said, if it helps more people get behind England so they can dispatch Australia back to where they belong, then so be it.”