If you have certain special words in your address, then this story will probably make you very happy.
Research by Wetherells has found that if the name of your address is one which buyers desire, it can add up to 40% to the value of your home, whilst the wrong name can wipe off 20%.
London’s most desirable and valuable address names are “crescent”, “square” and “mews” whilst the least coveted are “road”, “grove” and “court”.
The research, which measured 2,400 property sales over a 12-month period, found that London has the sexiest addresses in the UK.
Take a look at the list.
“Crescent” – 40% higher than average central London prices
The sales price of a typical “crescent” home in London is over £5m for 2,000 square foot of living space. London’s top three most expensive “crescents” are Wilton (Belgravia), Hans (Knightsbridge) and Pelham (South Kensington), with a 9,100 square foot home selling in Wilton Crescent for a record £32m.
Rich & famous residents: Roman Abramovich, Daria Zhukova, Stefano Sassi (President of Valentino)
“Square” – 20% higher than average central London prices
Properties on a “square” fetch a price of £1,807 a square foot, 20% higher than the London average. The sales price of a typical “square” home is £3.8 m. London’s top three most expensive “squares” are Grosvenor Square in Mayfair (£3,707 per square foot), Eaton Square in Belgravia (£3,167) and Cadogan Square in Chelsea (£2,925 per square foot).
Rich & famous residents: Lilly Safra, Late Baroness Thatcher, Joseph Lau, Oleg Deripaska, Jose Mourinho, Roger Moore, George Soros, Charles Saatchi, Noam Gottesman, Lord Harris of Peckham, Flavio Briatore, Theo Fennell
“Mews” – 14% higher than average central London prices
Averaging £1,715 per sqft, “mews” homes achieve a 14% price premium over the average for central London. A typical property costs £3m. London’s most expensive “mews” ranked are Pont Street Mews and Grosvenor Mews in Knightsbridge, Belgrave Mews South in Belgravia and Woods Mews (off Park Lane) in Mayfair.
Rich and famous residents: Francis Bacon
Other notable addresses include:
Row – £1,696 per square foot
Place – £1,651 per square foot
Gate – £1,613 a square foot.
Terrace – £1,568 per square foot
Walk – £1,533 per square foot
Gardens – £1,509 per square foot