Leicester City's success may have had an unexpected consequence
Leicester City are on course to make history this weekend, but their success has possibly played a hand in an unexpected consequence.
Having been promoted to the top flight in 2014, Leicester City's unlikely heroes such as Jamie Vardy, Riyad Mahrez, Wes Morgan and N’Golo Kante, have surpassed ALL expecations this season.
But that's not the only thing in Leicester to have surpassed all expectations recently.
Taking a look at the evolution of house prices in the area over the past 5 years, there is a significant correlation between Leicester City’s success and the average cost of a home in the area. The chart below, courtesy of TheHouseShop.com, displays the average house price in Leicester city centre, along with Leicester City’s final league position.
There are sharp spikes in house prices in years that Leicester City have been successful, and slower rises in years they haven't been successful.
It's important to point out that house prices are, generally, on the rise in the UK, but a 7.5% increase in Leicester in 2016 is huge.
But surely, there are other reasons other than football as to why Leicester house prices are on the rise. The Connecting Leicester regeneration plan (which will see more economic growth in the city centre) could have played a role. Maybe the £9.5m waterside transformation could also have bumped up prices;
But this isn’t the first time a city has experienced a hike in property prices in a time of footballing glory.
In 1995, Blackburn Rovers were crowned Premiership champions, the team’s success saw the average price of flats in the Lancashire town area rise 362 per cent, from £7,950 to £36,750.
Imagine finding a decent flat for £36k these days...