Footballers inject £100m into UK residential market

Footballers inject £100m into UK residential market



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Premier League footballers who moved during the January transfer window could inject £100 million into the UK property market, a recent report.

Premier League footballers who moved during the January transfer window could inject £100 million into the UK property market, a recent report from property experts Rightmove has found.

The report discovered that highly-paid top flight players who have joined sides in January could be worth up to £100 million as they eye up new homes to buy or rent as part of their relocation.

Signings who have come from overseas, in particular, will have to consider new homes.

Some clubs who have taken on a high number of players from abroad – such as Newcastle United, who bolstered their squad with six new players, including Moussa Sissoko, Mapou Yanga-Mbiwa and Mathieu Debuchy from France – could be adding tens of millions of pounds to their local property market.

Over the past three years, an average of 23 players have moved permanently to the Premier League in the January transfer window, with a significant number of loan deals also requiring players to move into prime-location rental properties.

After accounting for house sales, rental agreements and home refurbishment and renovation costs, Rightmove estimates that a combination of escalating player salaries and price growth in prime property markets could lead to £100 million being added to the UK’s property industry.

The property specialist also pointed out that while estate agents might well be keeping tabs on the back pages for any breaking transfer news, many football fans would have turned to the property market for tell-tale signs of activity.

In the most recent summer transfer window, for example, former Arsenal striker Robin Van Persie’s move to Manchester United was heralded by the Dutch forward’s home in Goffs Oak being listed for sale.

Similarly, the appearance of new AC Milan player Mario Balotelli’s £13,500 per month rented property on Rightmove sparked a flurry of rumours about a move away from Manchester City.

Speaking on transfer deadline day Miles Shipside, Director at Rightmove, said: “Estate agents in footballer hotspots such as Cheshire, Surrey and Hertfordshire will be on high alert to potential transfer market activity on Thursday. Big wages and signing-on fees mean footballers are both cash-rich and willing and able to transact on a property very quickly making them highly desirable customers for vendors and landlords of prime property.”

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