How your street name can affect the value of your home

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22 Apr 2018

What’s in a name? How your street name can affect the value of your Maidenhead home

Author: George Steedman

It’s an age old question that recent research into house price data may have found an answer to. Recent research has confirmed that both price and curb appeal are impacted by whether your street name is Road, Street, Crescent or Square.

Data taken from Land Registry for 2017 shows that the average price of property sold on a “Road” is £301,950. This proved to be the most popular name among buyers, accounting for 30.7% of all sales in 2017. If your home is on a “Park” you can expect to fetch a 9% premium, other names which could add thousands to the value of your home are “Place”, “Hill”, or “Garden”. Compared with a home on a “Road”, a property with no street address was valued at an average of £10,000 more! “Square” was the street name with the highest impact on property prices but accounted for just 0.5% of sales. On a “Square”, the average property cost £462,895 – 53% more than a property on a “Road”.

“St Luke’s Road in Maidenhead was the street with the most transactions on over the last 12 months which backs up the findings of this study” explains Romans Sales Manager, George Steedman.

“Maidenhead remains a popular place to live and with Crossrail coming soon, we predict the market will continue to move. Although there are many active buyers, correct pricing remains to be the key to a successful sale.”

If you are thinking of selling your property and want to make sure it’s correctly priced, contact one of our local experts on 01628 633 376 or visit romans.co.uk/selling/freevaluation

 

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