HOUSE PRICES CLOSE TO PREMIERSHIP GROUNDS INCREASE BY A FIFTH

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1 The Bank of Scotland Scottish Premiership Football Grounds House Prices Review tracks house price movements in postal districts of the 12 football clubs that will be competing in the 2017/18 Premiership. The review is based on data from the Registers of Scotland and Bank of Scotland. HOUSE PRICES CLOSE TO PREMIERSHIP GROUNDS INCREASE BY A FIFTH Aberdeen are top of the league with an increase of 37% over the last ten years Newly promoted Hibs are second with an increase of 29% Celtic are bottom of the league with a decrease of 17% Average house prices close to Scottish Premiership football grounds have increased by 20% over the last ten years, according to research by Bank of Scotland. This represents an average increase of 24,811 during the past decade; from 121,237 in 2007 to 146,048 in 2017, equivalent to a weekly rise of 48. This increase is significantly higher than the 6% rise recorded in house prices across Scotland as a whole since The average price for a home in the surrounding postal districts of the 12 clubs contesting the Scottish Premiership for 2017/18 is 146,048 15% ( 25,002) lower than the average for the whole of Scotland ( 171,050). (See Table 1) Graham Blair, Mortgages Director at Bank of Scotland said: "Living next to a Scottish Premiership stadium has benefits for more than just their loyal fans. Despite the challenges that Aberdeen has seen since the Oil and Gas downturn property prices near Pittodrie are top of the table. House prices in the last ten years have seen price rises that score well above Scotland as a whole. The exception being Celtic, champions on the pitch but coming in last place in terms of house price growth. Newly promoted Hibs will be hoping that their performance on the pitch mirrors that in the house price table." Winners and losers in Scottish Premiership house price table The biggest increases in value have been seen in properties close to Pittodrie, home to Aberdeen. The average home value in this postal district has risen by 37% over the decade, from 110,286 in 2007 to 151,273 in This is despite a 6% fall in prices in the area over the past year. Areas around Easter Road, home to newly promoted Hibernian, have seen the second biggest increase with a rise in average property prices of 29% (from 160,002 to 205,626).

2 Fir Park (Motherwell) has seen the third biggest rise in property prices with an increase of 23% from 107,170 in 2007 to 132,265, followed by New Douglas Park (Hamilton Academical) with an increase of 21%. In a change of fortunes, last year s title winners Celtic have finished bottom of the Scottish Premiership house price table with the average value of properties close to their home ground falling by 17% between 2007 and The only other stadium to record a decline in prices over the past decade is fellow Glasgow side Rangers (-2%). Partick Thistle (5%) and Kilmarnock (8%) were the next poorest performers. Huge price variations around Scottish Premiership grounds The postal district covering Hibernian (EH7) is the most expensive area to live in with an average house price of 205,626. This is more than double the average price in the least expensive Scottish Premiership postal district of G51, home to Rangers, where the average house price is 85,009. (See Table 1) Homes near Rangers Ibrox Stadium are the most affordable of all Scottish Premiership homes. The postal district G51 home to Rangers is the most affordable Scottish Premiership postal district, with the price of the typical home less than three times (2.7) gross annual average earnings. Newly promoted Hibernian has the least affordable Scottish Premiership postal district with the average property price being 5.2 times annual gross average earnings in the area. St. Johnstone and Partick Thistle, both on 4.6, are joint second followed by Motherwell (4.3). The average house price close to a Scottish Premiership ground is 146, times higher than national average gross annual earnings. This is below the Scottish average of 5.1. (See Table 2)

3 Table 1 Ten year % change in house prices in the postal districts of the 12 Scottish Premiership team stadia for the 2017/18 season. Club Stadium Year Opened/ first Occupied Average House Price 2007( ) Average House Price 2017 ( ) Ten year % Change Aberdeen Pittodrie , ,273 37% Easter Road Hibernian Stadium , ,626 29% Motherwell Fir Park Stadium , ,265 23% Hamilton New Douglas Academical Park , ,489 21% Dundee Dens park , ,332 18% Heart of Tynecastle Midlothian Stadium , ,187 16% St Johnstone McDiarmid Park , ,872 14% Ross County Victoria Park , ,206 12% Kilmarnock Rugby Park , ,510 8% Partick Thistle Firhill Stadium , ,607 5% Rangers Ibrox ,630 85,009-2% Celtic Celtic Park ,284 88,692-17% Premier League Average* 121, ,048 20% Scotland 161, ,050 6% Sources: Registers of Scotland 12 months to May, Bank of Scotland * Average of the 12 postal districts encompassing the 12 Scottish Premiership teams weighted by the number of property sales

4 Table 2 Home affordability in the postal districts of the 12 Scottish Premiership team stadia for the 2017/18 season. Club House Price 2017 ( ) House Price to Average Earning ratio** Rangers 85, Celtic 88, Kilmarnock 113, Dundee 110, Ross County 134, Hamilton Academical 132, Heart of Midlothian 163, Aberdeen 151, Motherwell 132, Partick Thistle 146, St Johnstone 153, Hibernian 205, Premier League Average* 146, Scotland 171, Sources: Registers of Scotland 12 months to May, Bank of Scotland * Average of the 12 postal districts encompassing the 12 Scottish Premiership teams weighted by the number of property sales ** Average house price divided by average annual gross earnings for full-time employees in the relevant local authority district EDITORS' NOTES: Bank of Scotland s Scottish Premiership Grounds Review tracks house price movements in postal districts of the 12 football clubs for the Scottish Premiership season. House price data is from the Registers of Scotland and Bank of Scotland and all price figures refer to the arithmetic average of house prices. The data covers the 12 months to May for the period between 2007 and These prices are not standardised and therefore can be affected by changes in the sample from year to year. Average earnings figures are from the ONS's "Annual Survey of Hours and Earnings" (ASHE) and refer to the means for full-time employees in the relevant local authority district for each ground. Details of the 12 Scottish Premiership grounds have been sourced from official club websites.

5 Crown copyright material reproduced with the permission of Registers of Scotland. "This report is prepared from information that we believe is collated with care, however, it is only intended to highlight issues and it is not intended to be comprehensive. We reserve the right to vary our methodology and to edit or discontinue/withdraw this, or any other report. Any use of this report for an individual's own or third party commercial purposes is done entirely at the risk of the person making such use and solely the responsibility of the person or persons making such reliance." Bank of Scotland plc all rights reserved 2017.