As the Grand National approaches this weekend, lettings and estate agent Benham and Reeves has discovered that Aintree is the most affordable area for homebuyers seeking to live near a prominent horse racing venue in the UK.
Their research shows that while homebuyers generally pay 12% more for properties close to leading racecourses, Aintree stands out as the bookies’ favorite, offering 33.2% greater affordability compared to the wider Sefton area.
Benham and Reeves examined house prices in 59 postcodes housing famous horse racing venues, comparing the cost of homeownership in these locations to the average house price in the wider local authorities.
The study found that the average house price in areas with a well-known racing venue is £323,687—12% higher than the average price within the broader local authorities.
Sandown Park in Elmbridge has the highest average house price at £968,317, while Ayr in South Ayrshire is the most affordable at £105,579. However, Sedgefield in Durham has the highest property price premium, with an average house price of £271,975—104% more expensive than the wider Durham local authority average of £133,365.
In contrast, the L9 postcode of Aintree, home to the Grand National, has an average house price of £141,485, making it 33% more affordable than the wider Sefton area, which has an average house price of £211,812.
Marc von Grundherr, director of Benham and Reeves, suggests that investing in the local property market around Aintree may be a wiser choice than betting on the races, as the area offers one of the most affordable property price tags compared to the broader local market.
Von Grundherr said: “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.”
