We’re already into the second week of Wimbledon 2019 and the competition is really starting to hot up! By the end of this week, around half a million spectators will watch some 675 matches, 23 tonnes of strawberries and over 150,000 glass of Pimm’s will have been drank; not to mention the 10,000 litres of ice cream will be eaten!
Winner’s Prize Fund 2019
At £38 million, this year’s total prize fund for Wimbledon has risen by 11.8% since 2018! In comparison to the current rate of house price growth (1.4%) there is no real comparison (imagine me vs Andy Murray with or without broken down hip). The winners of the singles Championships will both be presented with a cheque for £2.35 million, a 4.4% increase on 2018.
Calling All Potential Champions!
For a bit of fun, imagine if the players are looking to invest their winnings in UK residential property! The prize money will most certainly go a pretty long way. All but 0.24% of all property sales over the last year have been under £2.35 million, while over one third of all property sold for less than £176,000.
In Witham alone, the average cost of properties are as follows:
- Flats: £173,427
- Terraced Houses: £248,580
- Semi Detached Houses: £294,738
- Detached Houses: £498,833
This means if the next Wimbledon champion was to invest in our wonderful town, they would be able to buy (for cash obviously):
- 13 flats
- 9 terraced houses
Looking at the above graph, average rents are:
- Flats: £708
- Houses: £964
So the Wimbledon champs could give themselves an income of
- Flats: £9204 pcm = £110,448
- Houses: £8676 pcm = £104,112
So if you’re reading Roger/Rafa/Novak/Serena/Any other woman in the competition, why not contact WitLet on 01376502500? We would be more than happy to discuss how investing your winnings in our town can provide you a nice portfolio of rental income for your retirement. If you want a quick look at the town, head to our insights page on our website by clicking here! As you can see, Witham has many benefits… oh i’ll stop for now! For anyone else who may want some free property advice or to discuss their options within the property market, we would love to hear from you too!