Winning a singles title at Wimbledon wouldn’t cover the cost of a detached home in the tournament’s SW19 postcode, according to new research.
Trussle analysed how far the Championships’ prize money would take players in the UK housing market depending on the round they reached.
The average cost of a detached property in Wimbledon’s prestigious SW19 postcode, in south-west London, currently stands at £2.9 million, comfortably ahead of the £2.25 million pot of winnings on offer for the men’s and ladies’ singles titles.
Although the top prize doesn’t cover the cost of a dream home in SW19, it would enable buyers to purchase the average two bedroom flat in nearby Kensington’s W8 postcode (£1.97 million) or a total of eight averagely priced homes across the UK.
Even the losing player in a singles final at Wimbledon receives the consolation prize of £1.125 million, comfortably enough to cover the cost of a semi-detached home in neighbouring Richmond.
Semi-finalists earn £562,000, which would buy two averagely priced UK homes or a detached abode in Brighton (£555,000).
The prize fund for a quarter finalist in the tournament, meanwhile, is still a none too shabby £281,000, which would easily pay for the price of an average detached home in Durham (£255,000). A fourth-round exit is made easier by prize money of £163,000, exactly the right amount for a flat in Leeds.
Those who exit in the third round, on the other hand, receive £100,000, which would buy them a terraced property in Kilmarnock. A second round exit brings a reward of £63,000, which would be enough for a 40ft narrowboat in London.
While nobody wants to crash out in the first round, this blow is softened by the £39,000 players receive, which could fund a beach hut with a sea view in Seaford, East Sussex.
“The amount of prize money on offer at Wimbledon will seem a lot to most people, yet shockingly, it still wouldn’t afford you a dream home in the local area,” Ishaan Malhi, chief executive and founder of Trussle, said.
“London house prices are slipping in some parts of the city, but these comparisons show just how unaffordable the capital has become for those on normal salaries. This perhaps explains why the average first-time buyer in London is now 33, one year older than tournament favourite Rafael Nadal.”
He added: “For those who feel as though home ownership is unreachable, there are options that can make it easier to get on the ladder. Postcodes can have a huge impact on house prices, so it’s worth considering homes a little further away from your dream location. Another route is to club together with friends so that you can share the cost of a deposit and split the mortgage between you.”