"Unlike horse racing, money placed in property is far from a gamble and even the best odds in the business wouldn’t bring you the same return as a bricks-and-mortar investment over the long-term"
Benham and Reeves analysed current house prices across 59 postcodes home to a prominent horse racing venue, from Sandown to Nottingham, Epsom to Nottingham and everywhere in between. Benham and Reeves then analysed how the current cost of horse racing homeownership compares to the average house price of the wider local authority each venue is located within.
The research shows that, on average, house prices across postcodes home to a famous horse racing venue will set you back £323,687 in the current market. 12% more than the average price of purchasing within the wider local authorities they are located within.
When it comes to the outright most expensive, Sandown Park in Elmbridge ranks top with an average house price of £968,317, while the outright most affordable is Ayr in South Ayrshire at £105,579.
However, when it comes to the highest horse racing property price premiums, it’s Sedgefield in Durham that ranks top.
With an average house price of £271,975 in the TS21 postcode, a property close to Sedgefield Racecourse is a whopping 104% more expensive than the wider average of £133,365 found across the local authority of Durham.
Wetherby (77%), Southwell (69%), Nottingham (65%) and Wolverhampton (57%) are also home to some of the highest horse racing property price premiums in the UK.
Ayr again ranks as the most affordable when compared to the wider area, with the average house price in the KA8 postcode coming in -37% below the wider area of South Ayrshire.
However, those heading to the Grand National this weekend may well find the biggest winners are within the surrounding property market, not the racecourse.
With an average house price of £141,485 the L9 postcode, home to Aintree Racecourse and the Grand National, is -33% more affordable than the wider area of Sefton (£211,812).
Director of Benham and Reeves, Marc von Grundherr, commented:
“Those heading to Aintree this weekend would be best placed investing their money in the local property market rather than the runners and riders, as the area boasts one of the most affordable property price tags of all racing venues when compared to the wider local market.
"Unlike horse racing, money placed in property is far from a gamble and even the best odds in the business wouldn’t bring you the same return as a bricks and mortar investment over the long-term.”
