The most expensive and the cheapest road names revealed
New research has shown that the value of your property, along with many factors can also be down to the name of the road you live in. For example living somewhere with ‘Warren’ or ‘Chase’ in the name could mean you own an increasing fortune. Properties containing these names are the priciest in Britain. This is apparently due to people feeling a sense of privilege and exclusivity.
The study of the link between road names and property prices found that a house in a location with the word ‘Warren’ in the name, is typically worth twice the average house price in the UK at £607,267. It also revealed that the second most expensive locations contained the name ‘Chase’ in the address, closely followed by ‘Mount’ reaching a value of £390,500.
The most common addresses in Britain are those who live on a ‘Road’ with 2,125,670 people inhabiting them, which are worth an average of £293,403. While ‘Street’ was found to be the cheapest address to own a property averaging £184,722. The second least expensive were ‘Court’ and ‘Terrace’ which came to around £190,851 in value.
However, the study also found that if your property is on a road with a royal name it could also be worth more. Addresses with ‘Elizabeth’, ‘King’ and ‘Queen’ in the name were also found to have an increased value.
Lawrence Hall from Zoopla added that “The saying goes that the three most important factors when buying a house are location, location, location”.
Aislinn Devlin, Pali Ltd
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