KentOnline

bannermobile

News

Sport

Business

What's On

Advertise

Contact

Other KM sites

CORONAVIRUS WATCH KMTV LIVE SIGN UP TO OUR NEWSLETTERS LISTEN TO OUR PODCASTS LISTEN TO KMFM
SUBSCRIBE AND SAVE
News

Study shows house values can be £100,000 higher for homes in a lane as opposed to a street

By: Claire McWethy cmcwethy@thekmgroup.co.uk

Published: 12:00, 21 August 2015

Updated: 12:10, 21 August 2015

What's in a name? Well, about £100,000 according to a new study into property values.

Barclays Mortgages has analysed the difference in house prices, depending on whether they are situated in a road, avenue, street, lane and close.

The lender found there is a significant disparity in the value of homes depending on the first line of their address.

Houses are being snapped up quickly. Stock image

And top of the table when it comes to expensive street names is ‘lane’, which was revealed to be the most valuable address, with an average house price of £245,906.

They were closely followed by ways at an average price of £218,742, roads, £212,717, closes, £204,374, and avenues at £192,344.

mpu1

On the other hand, it seems living on a street means your home could be worth less, with properties in these areas found to have an average value of just £142,374, some 29% below the national average.

Across the country, living in a lane is worth more than £100,000 extra in terms of your house price in comparison with setting up home in a street.

In the south-east, this divide is even greater, with a home in a lane said to be worth an average of £137,145 more than a property in a street.

Travellers have moved onto land off Gatland Lane

Kevin Shaw from property group Leaders said the findings should be taken with a pinch of salt. He said: “It’s interesting to see the variation in property values based on names of roads.

"However, averages can never give you a precise picture and each home has its own unique value based on its exact location, condition and distinctive features."

The theory is borne out in Maidstone, with the most expensive house currently listed for sale located in Gallants Lane, East Farleigh, according to Zoopla.

But in Kent as a whole, the top value home currently for sale located in Rushmore Hill in Knockholt.

mpu2

In fact Hill appeared three times in the top 10 most expensive houses, with three roads, a street and just one lane, at number 9.

Kent's current top 10 most expensive houses for sale, according to Zoopla:

1. Rushmore Hill, Knockholt: £3,695,000
2. Wilderness Road, Chislehurst: £3,500,000
3. Hosey Hill, Westerham: £3,500,000
4. Kemnal Road, Chislehurst: £3,250,000
5. Chelsfield Hill, Chelsfield: £3,000,000
6. Warren Road, Chelsfield: £3,000,000
7. Wateringbury Road, East Malling: £2,999,995
8. French Street, Westerham: £2,750,000
9. Grandshore Lane, Frittenden: £2,600,000
10. Homestead Road, Chelsfield: £2,500,000

More by this author

sticky

© KM Group - 2024