Whats in a name?

News at Newton Fallowell | 18/10/2017


Here at Newton Fallowell Hartleys we love following house price trends and this month decided to compare home addresses. There are people who feel strongly about whether their home address is on a Road, Street, Crescent or Square and developers often assume that one will attract a higher price than another. To test the theory, we explored 2017 sales data to see whether we could identify any correlation between suffix and price.

THIS IS WHAT WE FOUND:

The average price of a property sold on a "Road" to date in 2017 is £301,950, however there are premium purchase properties elsewhere. To purchase on a “Park” expect to pay a 9% premium while to purchase on a “Place”, “Hill”, or “Garden” could add thousands to your purchase price. Owning a property with no street address at all, added £10,000 to one on a “Road”. At the top end of the budget, just 0.5% of all properties sold this year have been on a “Square”, where the average price is £462,895, a stunning 53% more expensive than a “Road”. But “Road” has kerb appeal for more buyers than any other address, accounting for a substantial 30.7% of all sales this year.



Of course to really understand where your property value currently fits in the marketplace, an up to date valuation from our specialists Richard or William will give you the answer. CALL US ON 01509 611119 to arrange a free valuation