Hills and Gardens are the street name suffixes that command the highest house prices, but it’s Grove that’s seen the largest annual increase in the price paid for homes on such road types, latest research by Regency Living reveals.
Regency Living has analysed the latest Price Paid data from the Land Registry to reveal which street type is most sought after amongst homeowners and boasts the highest average house price, as well as which have seen the largest price increase over the past year.
The data reveals that homes on ‘Hills” command the highest price amongst the nation’s homebuyers, with an average sold price of £370,000 over the last year.
‘Gardens’ commands an average price of £326,125, while ‘Lane’ (£325,000), ‘Park’ (£320,000), and ‘Green’ (£315,000) complete the top five.
MOST GROWTH
But it’s properties on ‘Groves’ that are seeing the most growth, with the largest annual increase in sold prices over the last year, rising by 6% on the year to reach an average of £265,000.
‘Court’ has seen prices rise by 5.3%, followed by Street (5%), Place (4.6%), and Green (4.3%).
Meanwhile, the most affordable street name suffix is Terrace with an average house price of £180,000, followed by Street (£188,000) and Court (£200,000).
INFLUENCING OPINION
Tim Simmons, Sales and Marketing Director at Regency Living, says: “The housing market in England and Wales has become increasingly unaffordable and it certainly seems that the type of road you choose to live on could have a significant impact on the price you pay.
“Our research shows that it will cost you far more to live on a Hill or Garden versus a Terrace or Court and it goes to show how a name can go a long way in influencing opinion.
“Park homes, on the other hand, are all about attractive living in idyllic locations and provide a far more affordable route to downsizing, with beautiful bungalow homes situated within ready-made communities of like-minded people of a similar age. And if it’s attractive street names you’re after, we’ve got those, too, with Magnolia Walk, Hawthorn Avenue, and Primrose Bank being just three good examples.”
