With the Grand Nationwide operating this weekend, analysis by lettings and property agent, Benham and Reeves, has revealed that whereas homebuyers will usually pay a median of 12% extra to reside near one among Britain’s main horse racing venues, Aintree is the bookies favorite for homebuyer affordability, coming in -33.2% extra reasonably priced in comparison with the broader space of Sefton.
Benham and Reeves analysed present home costs throughout 59 postcodes residence to a distinguished horse racing venue, from Sandown to Nottingham, Epsom to Nottingham and in all places in between. Benham and Reeves then analysed how the present value of horse racing homeownership compares to the common home value of the broader native authority every venue is positioned inside.
The analysis reveals that, on common, home costs throughout postcodes residence to a well-known horse racing venue will set you again £323,687 within the present market. 12% greater than the common value of buying inside the wider native authorities they’re positioned inside.
With regards to the outright most costly, Sandown Park in Elmbridge ranks high with a median home value of £968,317, whereas the outright most reasonably priced is Ayr in South Ayrshire at £105,579.
Nonetheless, in terms of the very best horse racing property value premiums, it’s Sedgefield in Durham that ranks high.
With a median home value of £271,975 within the TS21 postcode, a property near Sedgefield Racecourse is a whopping 104% dearer than the broader common of £133,365 discovered throughout the native authority of Durham.
Wetherby (77%), Southwell (69%), Nottingham (65%) and Wolverhampton (57%) are additionally residence to a number of the highest horse racing property value premiums within the UK.
Ayr once more ranks as probably the most reasonably priced when in comparison with the broader space, with the common home value within the KA8 postcode coming in -37% beneath the broader space of South Ayrshire.
Nonetheless, these heading to the Grand Nationwide this weekend could nicely discover the largest winners are inside the surrounding property market, not the racecourse.
With a median home value of £141,485 the L9 postcode, residence to Aintree Racecourse and the Grand Nationwide, is -33% extra reasonably priced than the broader space of Sefton (£211,812).
Director of Benham and Reeves, Marc von Grundherr stated, “These heading to Aintree this weekend could be greatest positioned investing their cash within the native property market relatively than the runners and riders, as the world boasts one of the vital reasonably priced property value tags of all racing venues when in comparison with the broader native market.
Not like horse racing, cash positioned in property is way from a bet and even the perfect odds within the enterprise wouldn’t carry you an identical return as a bricks and mortar funding over the long-term.”