The name of that bit of road outside your house has a big influence on overall value
Do you live on a Road, or a Street? Or perhaps you reside on a Lane, a Way, or even in a Nook. It may seem like it doesn’t matter, but the top line of your address could be adding thousands to the value of your property.
And it’s bad news for those living on a Street, or a Road.
The most desirable name for the bit of tarmac by which you access your abode is apparently Warren, followed by Chase, and Mount.
According to research by property website Zoopla, the average price of a house with a Warren suffix was a lofty £607,267. In comparison, the run-of-the-mill Street suffix has an average value of £184,722.
Zoopla said it analysed over 28 million homes to identify the top 1000 most common street names.
Zoopla’s Lawrence Hall said: “The saying goes that the three most important factors in buying a house are location, location, location; our research shows that even the road name you choose can make a difference to how much you can expect to pay when finding a property.
“Where a ‘Warren’ might appeal for those looking for exclusivity, ‘Streets’, ‘Courts’ and ‘Terraces’ could offer more affordable options.”
The researchers also recorded how many of each suffix they found in the UK.
Here are the findings:
Zoopla’s highest value streets by name
|Rank||Street suffix||Avg. Home Value||#in the UK|