I suspect its unlikely that many have diverted themselves from the usual ‘cultural exchanges’ to check out the local housing markets, but if they did, they would uncover a variety of outcomes as diverse as the fortunes of the rugby teams themselves.
In 2012 PrimeView reported that prices across France have climbed by 160% since 1998. At the time, Paris was identified as the third most expensive city in the world to live in at circa £14,600 per square metre of property, but more recently, there has been speculation that Paris prices may be about to collapse.
A total meltdown seems unlikely but the difficulties of the wider French economy suggest that a slowdown will occur in the city. We’ll see which French market turns up.
In Dublin, prices have fallen by over 50% since their peak of 2007 and may well have now bottomed out – more mortgage availability appears to hold the key to an Irish property recovery. Many from the North support the Irish team, but regrettably Northern Ireland prices look set to continue to limp downwards like an injured forward heading off the field.
Twickenham stadium is nestled in the West of London, a city which has decided that the recession is happening elsewhere and has seen inexorable price rises, year on year. Without London property, UK property prices were broadly flat in 2012, but add them in and the national average looks closer to 4%. Think of the city as the country’s Johnny Wilkinson in terms of the contribution it makes.
The Scottish team have languished in recent years and Edinburgh, home of Murrayfield, also returned a disappointing result in 2012, with average house prices falling by over £16,000. Like the Scots team, the city seems to be looking for the X factor that can reverse fortunes, though compared to Scotland as a whole, Edinburgh has been insulated from the worst falls.
Welsh house prices have seen modest falls in each of the last six months by comparison. Cardiff, home of the impressive Millennium Stadium, has lost its crown as the most expensive area of Wales. This honour going to the Vale of Glamorgan – which by coincidence is where the Welsh base their training camp.
Finally, for visiting fans enchanted by the unpredictable Italians, an apartment in the Eternal city can be picked up for circa £8,600 per square metre – so around 40% cheaper than Paris and with added sunshine. Whilst the wider Italian economy looks like a basket case, house prices seem to be holding their own right now, much like the Azzuris themselves.
Richard Sexton is director of business development at e.surv
