The Premier League of Property revealed

MANCHESTER United may be the reigning Premiership champions but in the Premier League of Property they are firmly mid-table.

As the Premiership season approaches House Price UK has unveiled the Property Premier League table - revealing the house prices in the streets around the stadiums of the top division's 20 sides.
It will come as no surprise to see London dominating  - taking the top six places when it comes to average house prices.
Fulham come top the pile thanks to their position in the swanky West End of London.
Average prices around the ground are a whopping £677,161 - narrowly pipping Arsenal to the title with Chelsea coming in third.
Manchester United come eighth in the table with average homes in their district at   £170,801 although they have the consolation of finishing well above their city rivals at the Eitiad Stadium.
In the relegation zone Merseyside rivals Liverpool and Everton occupy the bottom two places with the Blues propping up the table with average prices at £71,955 - more than £600,000 less than the table toppers at Craven Cottage.
But Fulham can't sit on their laurels as House Price UK will track the fastest growing areas over the next 10 months - crowning the champions in May.
Richie Richards, from @HousePriceUK, said: "The top positions of the Property Premier League were always going to be dominated by the London clubs. I expected a two horse battle between West London clubs Fulham and Chelsea given their prime postcodes so I was surprised to Arsenal edge ahead of their rivals in Stamford Bridge.
"The table highlights the gulf in prices in London with average homes around Crystal Palace's Selhurst Park a full £450,000 cheaper cheaper than those in the vicinity of Fulham's Craven Cottage.
"At the other end of the table Merseyside giants Everton and Liverpool are playing in a different league, scraping just above the £70,000 mark.
"The good news is that there is everything to play for over the next 10 months. The champions will be decided by which club sees the biggest percentage rise in house prices between now and May.
"While London's prices have rocketed over the past 12 months it could now be the chance for other regions to play catch up with a traditional lag between price movement in the capital and the rest of the UK.
"Most regions are covered in the Premier League mix this year from Southampton on the South coast to Newcastle in the North, Swansea in the West to Norwich in the East.
"The success or failure of teams will reflect how that region has performed over the season.
"Like the actual Premiership it is hard to predict a winner and I expect it to be a close run thing.
"The champion will be revealed on @housepriceuk and housepriceuk9.blogspot.co.uk next May. Good luck to all the teams."

Property Premier League (position, team, postcode, average sold prices, increase/decrease)
1: Fulham, SW6 6NP, £677,161, up £45,743 (7.4%)
2: Arsenal, N5, £645,467 up £19,398 (3.1%)
3: Chelsea, SW6 1HS, £541,642, up £36,490 (7.25%)
4: Tottenham Hotspur, N17, £236,894, up £4,905 (2.11%)
5: West Ham United, E6, £226,364, up £3,057 (1.37%)
6: Crystal Palace,  SE 25, £222,274 up £9,200 (4.32%)
7:Southampton, SO14, £173,714, down £2,699 (-1.53%)
8: Manchester United, M16, £170,801, up £218 (0.13%)
9: Cardiff, CF11, £168,165 up £1,085 (0.64%)
10: Norwich City, NR 1, £165,591, up £260 (0.16%)
11: Newcastle United, NE 1, £140,028, up £299 (0.21%)
12: West Bromwich Albion, B71, £123,804, up £1,052 (0.86%)
13: Swansea City, SA 1, £111,409, down £3,852 (3.34%)
14: Stoke City, ST4, £108,602, up £581, (0.54%)
15: Manchester City, M11, £98,175, up £657 (0.67%)
16: Aston Villa, B6, £92,956 up £1,067 (1.16%)
17: Sunderland , SR5, £89,624, down £6,446 (-6.7%)
18: Hull City, HU3, £78,573, up £3,450, (4.5%)
19: Liverpool, L4 Anfield, £74,866, up £1,415 (1.95%)

20 Everton, L4, £71,955, up £1,556 (2.21%)

Figures from Zoopla's ZED Index. The Zed-Index is the average property value in a given area based on current Zoopla Estimates. 

House prices rise 6.6% in London in 2013

The prime London residential market has recorded stronger price growth in the past three months than at any time since March 2012, defying expectations that values would flatline this year, according to the Savills quarterly prime London index. 

Across prime London prices rose 2.5 per cent between April and June, bringing annual growth up to 6.6 per cent from 5.5% at the end of the first quarter.  But, says Savills, there are significant differences in performance between locations and price bands that reflect differences in buyer profiles, reasons for purchase and their perception of the market, with evidence that some market segments are now looking fully valued.

The strongest growth was seen in the predominantly domestic markets of prime southwest London (running from Fulham to Richmond and Battersea to Wimbledon), where values rose 3.2 per cent in the last quarter.  Annual growth now stands at 8.5 per cent, much higher than the 4.4 per cent seen in prime central London.  Despite reduced city bonuses, these markets are benefiting from wealth accumulated prior to the downturn, new wealth creation, especially from West End hedge funds, and increased buying activity from international buyers working and resident full time in the capital.

View the Average price movements across prime central London table

Prime property in Fulham has been the star performer, outperforming all other districts across prime London with annual price growth of 13 per cent at the mid-year point.   This means that £1million invested in a Fulham property would have gained £2,500 per week over the past year, compared with a more modest £845 in prime central London.

"Fulham is classic example of an area which has undergone ultra-gentrification, attracting international and domestic buyers who, despite significant wealth, have been priced out of the central London market,” says Lucian Cook, director of Savills residential research.   ”Such migration of wealth is being seen from Chelsea to Fulham, Kensington to Battersea and Wandsworth, and from Notting Hill to Chiswick.

“At the same time, domestic wealth has resisted a move out of the capital in this recovery cycle, resulting in a concentration of demand in prime southwest London and similar markets such as Islington.”

Prime central London values rose by just 1.6 per cent in the quarter and 4.4 per cent year on year.  Here price growth has become concentrated in the very core locations of Mayfair, Chelsea, Belgravia and Knightsbridge which are the primary focus of new global wealth.

“Other central London markets have remained more reliant on world money and price growth has become more subdued,” says Cook.  “Locations such as Kensington, Holland Park, Notting Hill and St John’s Wood have been more sensitive to the effect of stamp duty changes for properties over £2 million than the core central locations. 

“This has focused buyers’ minds on whether certain segments of the market are fully valued for now, with the result that these areas barely registered any price growth in the quarter, while year on year growth ranges from just 1.6 to 2.3 per cent.”

Savills research also highlights distinctions in performance by price band.   Properties worth over £10 million have outperformed to date, to stand 38 per cent above their previous peak.  However, values appear to have plateaued for the time being, although transaction levels remain robust . 

At the end of 2012, Savills forecast that London’s prime residential markets would be static through 2013.   “It is increasingly clear that prime London cannot be considered a single, homogenous market,” says Cook, “but average price growth of 4.8% per cent at the half year point could not have been foreseen at the turn of the year.”