Street price premiums: ‘Square’ commands 117% above average
The latest research by property finance specialists, One77 Mortgages, has looked at what road type commands the highest property prices across the nation.
Using Land Registry data, One77 analysed thousands of property records over the last year to find the average sold price across the likes of Road, Hill, Avenue and more, to see which carried the most weight when it came to home buyer preference.
Top of the pile was Square, with properties located on a square commanding 117% more than the average property.
Hill ranked second with buyers paying 85% more for a property on a hill, with Place, Gardens, Lane, Farm, Park, Crescent, Mews and Approach all placing in the top 10 where premium street prices are concerned.
One of the most common, Street, was home to an average sold price almost bang on the national average.
Those buying on Drift paid -29% less than the national average, with Close also seeing a property sold price -17% lower. This was also the case across those called Court, Terrace and Mount.
Alastair McKee, Managing Director of One77 Mortgages, commented:
“It’s interesting to see how even very minute factors can influence the price paid for property across the nation’s housing market, whether it be location, amenities or something as simple as a name.
While some of us might not think twice about the name of a road when considering a purchase, there is clearly some connection between the price paid for a property and the type of road name on which is it located.
For those selling on the right road, knowing the impact of your road name could not only help when setting an asking price but could see you achieve above average when selling.”
|
Name
|
Average Sold Price
|
Difference
|
|
Square
|
£501,320
|
117%
|
|
Hill
|
£426,328
|
85%
|
|
Place
|
£366,784
|
59%
|
|
Gardens
|
£346,219
|
50%
|
|
Lane
|
£342,996
|
49%
|
|
Farm
|
£341,616
|
48%
|
|
Park
|
£340,525
|
48%
|
|
Crescent
|
£334,160
|
45%
|
|
Mews
|
£328,707
|
42%
|
|
Approach
|
£320,477
|
39%
|
|
Heights
|
£318,627
|
38%
|
|
Green
|
£309,027
|
34%
|
|
Rise
|
£308,713
|
34%
|
|
Walk
|
£303,851
|
32%
|
|
Road
|
£297,733
|
29%
|
|
Meadow
|
£293,102
|
27%
|
|
Way
|
£292,606
|
27%
|
|
Parade
|
£287,198
|
24%
|
|
Avenue
|
£283,368
|
23%
|
|
Drive
|
£274,192
|
19%
|
|
Grove
|
£273,604
|
19%
|
|
Boulevard
|
£249,327
|
8%
|
|
Plains
|
£241,192
|
5%
|
|
View
|
£239,113
|
4%
|
|
Street
|
£231,383
|
0%
|
|
Mount
|
£229,066
|
-1%
|
|
Terrace
|
£218,121
|
-5%
|
|
Court
|
£202,823
|
-12%
|
|
Close
|
£191,040
|
-17%
|
|
Drift
|
£163,750
|
-29%
|
|
National Average
|
£230,776
|
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