Football has often been called Liverpool’s religion. If the cliché is true, then there would seem to be no more appropriate place for the beautiful game to start a property boom.

Until recently, Anfield, two miles north of the city’s centre, was famous only as the home of Liverpool FC. The rest of the local area, meanwhile, was infamous — for boarded-up windows and crumbling terraces.

In the past two years, however, house prices in Anfield have shot up, buoyed by a wider renaissance on Merseyside. And since Tom Hicks, an American equity specialist, and George Gillett, owner of the Montreal Canadiens hockey squad, bought the club at the heart of the area for £470m last month, this already busy market has been pushed into a state of frenzy.

The takeover brings the complete transformation of Anfield one step closer. The Americans have vowed to press ahead with Liverpool’s new £240m, 60,000seat stadium at Stanley Park, the Victorian open space adjacent to the club’s existing site.

Liverpool’s eventual move will lead to the loss of some of the park but the renovation of the remainder, as well as the transformation of the old 45,000capacity ground into Anfield Plaza, a self-designated four-acre tourist attraction with a hotel, bars, restaurants, shops, homes and offices.

Hicks has used stadiums before to regenerate run-down parts of Dallas, Texas, and he is understood to be examining Liverpool FC’s building plans to see if they can be improved.

Joan Berry, manager of the local office of Sutton Kersh estate agency, says that renewed confidence that the move will definitely occur under the club’s new owners has proved irresistible. “Prices have changed substantially over the past few weeks. Buyers seem particularly to want Stanley Park Avenue South and Ince Avenue, which borders Stanley Park itself. In November last year, we were selling three-bedroom terraced houses there for about £85,000. Now they are going for upwards of £95,000.”

Ian Murray, manager of the city centre branch of Andrew Louis estate agency, says a three-bedroom terraced house in Robarts Road, not far from the ground, was for sale in July last year at £79,995. It was later withdrawn, but went back on the market recently, and is under offer at about £95,000 — a rise of more than £15,000 in seven months.

The reasons for this leap are clear, Murray says. “The speculation about Anfield’s new owners and the ground moving has brought a lot of investors in, especially from Ireland.”

Other agents agree that Liverpool is drawing buyers from Dublin, an eight-hour ferry ride away, where a large chunk of the population has been enriched by a property boom that puts even that of London in the shade.

Daniel Boniface, manager of the Anfield office of agency Venmore Thomas & Jones, says he can’t believe the influx of Irish money. “They can’t pick anything up for under £110,000 in Ireland now, but in Liverpool they can easily find properties for £60,000 to £80,000. A lot of investors think prices can only go up.”

Some buyers are coming from even further afield: at an auction just after Liverpool FC’s takeover deal was signed, an Atlantic City investor bid aggressively for several of Anfield’s two-up, two-down houses.

The past few weeks have also seen rising interest in larger properties in the area, particularly those on Anfield Road, south of the site of the proposed new stadium. Venmore Thomas & Jones, for example, is selling an eight-bed, semidetached Victorian house for £350,000. It overlooks Stanley Park and has extensive front and rear gardens. On Argyle Road, further away from the ground, the agency is marketing a six-bed Victorian semi for £205,000.

“The club’s takeover has increased interest in these bigger properties dramatically,” says Boniface. “We have had particular interest from buyers looking to turn them into B&Bs.”

Many of the area’s terraces, though, are blighted by compulsory purchase orders, part of the NewHeartlands renewal scheme aimed at rebuilding some dilapidated terraces as modern, mixed developments. The plan is on hold due to local opposition, but if it proceeds, Anfield’s remaining Victorian houses may become even more prized.

Next year will see the city crowned European Capital of Culture and given a new retail-led heart, courtesy of a 42-acre, £920m regeneration project around the key artery of Paradise Street, masterminded by Grosvenor, the property company owned by the Duke of Westminster.

All the signs suggest that the city is destined for a bright future. And even the most die-hard fan of rival club Everton will surely admit that Anfield deserves a share of the rewards.

On the market

This five-bedroom, two-bathroom terraced house in Walton Breck Road has three reception rooms, a yard to the rear and a basement. It is for sale for £135,000 with Venmore Thomas & Jones, 0151 260 6106, www.vtj4sale.com

A two-bedroom, one-bathroom end-of-terrace house in Manningham Road has two reception rooms, but no off-street parking. It is for sale for £79,950 with Sutton Kersh, 0151 263 8558, www.suttonkersh.co.uk

Times recommends

• Fall in house sales hits builders, estate agents and mortgage brokers
• Why the property credit crunch favours cash buyers
• The blood-curdling history of Quarrelwood House