How your street name can affect the value of your home

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18 Jun 2018

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

Author: Antony Gibson

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”.

If you are thinking of selling your property, contact one of our local experts on 01344 985 666.

 

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