With the 19th series of the Six Nations Championship underway, rugby discussions have been rife in the Hatched office. Of course, as a leading online estate agent, we still had selling houses on the brain! So we started thinking about the property market in each of the six countries of the tournament and wondered how each of their house prices compared to one another.
Let’s go house hunting in the capitals of England, France, Italy, Ireland and Wales…
We’ll start with the defending Six Nation champions, England. In the capital, the average value of a property was £488,729 in July 2017 – over £245,000 higher compared to properties in the rest of England!
Despite their strength in the rugby tournament, the instability in England (partly due to Brexit and rising interest rates) means that house prices are predicted to slow dramatically across the country in 2018, and even drop in London. Not great news for home owners, but perhaps a positive step for making homes in the capital more affordable for potential buyers.
Scotland has received the backing of many punters to win the Six Nations thanks to their impressive form in the tournament last year, as well as in the autumn internationals.
And that’s not it – it looks like it holds a strong position on the property market too. The capital Edinburgh is a very sought-after place to live and house prices are rising at an extraordinary rate! In 2017, they rose by 6.7% across the board, but some areas (such as Corstorphine, Clermiston and South Gyle), saw an increase of as much as £5,500. Latest figures show that the current average is £253,182 to buy a property in Edinburgh.
If you’ve put your money on Scotland to win the Six Nations, fingers crossed for a big win – it could help you get on the property ladder in their capital city!
Paris, the city of love and apparently the city of rising house prices, too! House prices have risen sharply in the past year – good news for homeowners but not so great for those looking to get on the property ladder in the French capital.
Figures show that on average, it currently costs over €9,000 per square metre in Paris, which is a record high for the city. In fact, since the year that the Six Nations tournament began (in the year 2000), the average price of an apartment in the city has tripled, now standing at €446,982. This is the equivalent of around £396,826.
So, what has caused this rise? Analysis has shown that the election of Trump as President in the US, Brexit in the UK and the election of pro-business Emmanuel Macron in France have all played a role in boosting Paris’ property prices.
Great news for homeowners in the city… Let’s hope the odds look as good for the French rugby team’s victory!
Much like Ireland’s performance so far in the Six Nations, 2018 looks good for property prices in Dublin.
Property experts are predicting price increases of between 5-10% for the coming year and some postcodes, like Dublin 4 and Dublin 12, could see price values rise by as much as 15%! In fact, the Irish property market was the sixth fastest growing in the world in the 12 months to September 2017, performing better than all the other countries in the Six Nations.
This rate is expected to taper soon, so you may want to get on the property market in Ireland now! The average price for a house is €330,000, which is an equivalent of around £292,000.
Italy’s capital city is the country’s second most expensive market after Florence, but it is expected to lead the recovery of the Italian property market.
Thanks to low mortgage rates and government incentives aimed at helping first-time buyers and those purchasing energy-efficient properties, the country’s property market seems to be approaching stability. Plus, property prices in this cultural capital are half of those in London! In December 2016, the average price per square metre for a property in Rome was €3,252.
Italy may still be waiting to celebrate a win at the Six Nations tournament this year, but could you be living in the country of 2018’s winners?
The average house price in Cardiff in October 2017 was £218,896 – a 5.2% rise from the year before. In particular, the district of Pontcanna has seen the biggest rise in property prices – a 345% increase in the past 20 years.
In Cardiff, a property purchased for £20,000 in first quarter of 1977 would be worth £253,628 today - a massive increase of 1168.14%. This is positive news for homeowners, but perhaps not for youngsters hoping to get on the property market in this city.
Recent world events have made the European property market difficult to predict, but across all our Six Nations capital cities, there seems to have been some signs of growth.
For those who already own property in Dublin, you’re likely to see the value of your property continue to rise. If you're hoping to get on the property market, set your sights on Edinburgh. And if you didn't get the news you want from our property price comparison, fingers crossed for good news when it comes to the country lifting the glorious Six Nations trophy...