As the domestic and European football seasons draw to a close, Bull wonders whether there is any correlation between the success of a city’s football club and the strength of its property
market?
Bull & Bear use the 'Big Nine' regional office markets as a test case, comparing the league positioning of each city's football club with its prime headline office rent.
The theory can't explain Liverpool Football Club's dominance in the Premier League, and should definitely not be used to predict strong office rental growth in Wolverhampton, Nottingham or Bournemouth this year.
It does, however, serve to highlight how football can be harnessed to deliver economic prosperity, particularly when it comes to new stadium development. For example, Everton's new stadium has acted as a catalyst to transform Liverpool's historic waterfront and, if Manchester United get the go-ahead, the re-development of Old Trafford could deliver up to £7.3 billion per year to the UK economy.
Enjoy your Sunday.