Selling your home – Why it’s all in a name

January 29, 2016

Here at Waltham Estates we do all that we can to sell your home for the maximum price that the market will allow. With our local knowledge and understanding of market trends, we can ensure that you get a great profit for your investment. However there are certain factors that determine what prices we can get for your home that are outwith our control, these surprisingly are the names of the roads where properties are located. Is your property located on a street with a lucrative place name? If it is you may want to sell up and cash in now.

It may surprise some of you, but street names have a huge impact on the value of the properties on them. Homes with the words Warren or Chase in their address yield far more in sales prices than homes with any other UK place name. A home on a road with the word Warren in it’s title can cost double the national average. Properties on streets with the words Mount, Path, Park, End, Green, Way, Hill and Lane in them can also expect to enjoy higher profits for the sales of their homes.

According to the Telegraph the priciest street names in Britain are:

Warren, £607,267
Chase, £482,867
Mount, £390,500
Path, £389,732
Park, £384,809
End, £381,933
Green, £363,348
Way, £358,981
Hill, £354,301
Lane, £342,059
Gardens, £340,461
Paddock, £320,984
Walk, £319,926
Rise, £307,965
Lawns, £302,760

On the flip side there are plenty of street names that are not seen as particularly desirable and the properties on these locales tend to go for less money. The more common a place name is, the less likely it will be considered expensive. Homes with ‘street’ in their address, have an average worth of £184,722 , less than two thirds the national average. Court and Terrace also rank low.

Fun fact: Did you know that the most common road names in the UK are ‘High Street’ and ‘Station Road’, it is no surprise that properties on these streets typically sell at a lower value than the national average for property prices.

At Waltham Estates, we love our local area. If you are thinking of moving to the happening borough of Leyton, we will do all we can to point you in the direction of some of the best deals on the market. We help all our customers find their dream home or apartment, with professional care and advice along the way. Call us today.

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