As the Ashes series takes centre stage in the cricketing world, England and Australia are not just battling for the smallest trophy in the sport but also for supremacy across the regional housing markets surrounding the venues. Specialist prime property finance firm CapitalRise today unveiled a comprehensive ranking of the property markets around the five host grounds of the 2023 Ashes.
The 2023 Test cricket series is taking place across Edgbaston in Birmingham, Lord’s in St John’s Wood, Westminster, London, Headingley in Leeds, Old Trafford in Manchester, and The Oval in Lambeth, London. The victorious nation will hoist ‘the Ashes’, a petite urn that has become an iconic symbol since the late 19th century.
The term ‘the Ashes’ entered the cricketing lexicon after the Sporting Times released a satirical obituary for English cricket following England’s first home defeat to Australia at The Oval in 1882. In the subsequent tour, England’s captain, Ivo Bligh, was awarded a small terracotta urn, believed to contain the ashes of a burnt cricket ball.
If you have ever considered acquiring a property around these famous grounds, the current market figures are intriguing. A dwelling near Lord’s, located in St John’s Wood, Westminster, would set you back by £891,532, reflecting a substantial 15.5% appreciation from a decade ago. In the second spot is Lambeth’s The Oval with an average house price of £561,538. Despite witnessing the highest surge in house prices over the past decade (+89.3%), Trafford properties average at £362,554, placing them in the middle. Headingley, Leeds, and Edgbaston, Birmingham are the more affordable alternatives, averaging at £235,586 and £225,763, respectively.
Uma Rajah, CEO and Co-Founder of CapitalRise, stated, “London clearly leads the pack in terms of house price valuations, with properties near Lord’s being valued at over triple the amount of their counterparts in Edgbaston, Birmingham. Despite Manchester, Leeds, and Birmingham recording higher rates of house price inflation over the past decade, London’s valuations have shown far more stability. Prime markets like central London tend to be less susceptible to macroeconomic factors like the cost of living, thus providing a steady market with high demand and a limited supply of properties.”
Rajah further added, “As a premier property finance firm, we frequently fund development projects within the vicinity of iconic sites such as Lord’s. Locations like St John’s Wood are highly sought after for their beautiful family residences within close proximity to some of London’s top attractions like the London Zoo, Regent’s Park, and Bond Street. We continually identify ample development opportunities in Prime Central London, bolstered by enthusiastic buyers and sellers both locally and internationally.”
