Sporting venues score gold for buy-to-let investors
London’s largest lettings and sales estate agent has revealed properties in boroughs with large sporting venues are bringing home the big bucks.
Although summer is coming to an end, 2024’s has certainly been one to remember. We’ve experienced the Euros and the Olympics and to top everything off the Premier League has just restarted. However, this isn’t just good news for sporting fans, it’s also good for certain buy-to-let investors.
New research from Foxtons highlighted that the average rental yield found across the 14 postcodes which are home to a major sporting venue in London, comes in at 4.8% – this is 0.5% higher than the average rental yield of 4.3% found across the 14 wider boroughs.
Guy Gittins, CEO of Foxtons, said: ‘We’re certainly a nation of sport lovers and this love has only grown in recent years as sport has become more inclusive and accessible. It’s this inclusivity that makes London such a great city for hosting major sporting events and we’re now seeing a range of foreign imports such as the NFL, NBA and MLB make London a permanent fixture in their sporting calendars.
‘This has led to a great deal of ongoing investment into major sporting venues and as well as the facilities themselves, this brings many additional improvements to the surrounding area and the local infrastructure.
‘This benefits both the housing and rental markets, helping to boost supply and demand, which in turn ensures a strong rate of house price growth and superior yields for buy-to-let investors.’
Looking into the sports more closely, properties surrounding Wembley Stadium and Crystal Palace rank pretty high as rent venue sits between 5.5% and 5% respectively. However, it is cricket everyone seems to love.
According to the new research, Lord’s Cricket Ground has the highest rental yield at 6.9%. What’s more, it also boasts the strongest performance versus the wider borough, with the average rental yield coming in 3.1% higher than the 3.8% found across Westminster as a whole.
Image: Samuel Regan-Asante
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