Newcastle tops the table for property purchasing power

Newcastle top the table for property purchasing power in the summer transfer window

Research by property developer Stripe Property Group, has revealed that Newcastle United top the Premier League table when it comes to the ability to buy the most homes in their respective area with their estimated spend during the summer transfer window.

Stripe Property Group looked at the cash splashed by each team up until last week’s deadline day, the current average house price in each of their respective areas and how many homes they could purchase based on their summer transfer window spend.

A whopping £2.01bn was spent during this summer’s transfer window, enough to snap up 6,605 homes based on the current average house price across England and Wales.

At an estimated £251.09m, Chelsea spent the most this summer. But Hammersmith and Fulham, home to both Stamford Bridge and Craven Cottage, is also home to the highest average house price of all Premier League stadiums (£772,447). As a result, Chelsea’s summer transfer window spend is enough to see them purchase 325 homes, placing them just tenth in the table.

While they spent just £122.4m in comparison to Chelsea, Newcastle sit top of the table when it comes to the highest homebuying potential from this summer’s transfer window. With Newcastle home to a current average house price of £187,871, the Toon spent enough to purchase 652 properties surrounding their home ground.

Wolves sit second, with their summer spend of £122.94m enough to buy 627 homes around Molineux, followed by United (591), Man City (558) and Liverpool (458).

At the other end of the table and with just £15.3m spent, Leicester could afford to purchase just 67 properties around the King Power based on the transfer window spend.

Managing Director of Stripe Property Group, James Forrester, commented:

“Although Newcastle may not have spent the most this summer, the fact they sit top of the table when it comes to the ability to purchase the most homes is quite fitting given the changes the city is currently undergoing.

Not only is it a very exciting time for the city with respect to the team itself, but we’re also seeing Newcastle benefit from a high level of regeneration. The rejuvenation of the Quayside area is just one ongoing project that is breathing new life into the city, with a focus not only on its social offering, but also as a place to work, study and live.

The next few years are going to be big for Newcastle, on and off the pitch, as we reposition ourselves as the powerhouse of the North and beyond.”