What's your street name worth?
12:51 01 July 2010
While many house hunters take into practical considerations such as local schools, number of bedrooms or size of the kitchen, a new report suggests the name of the street they are on could be far more valuable to their decision making process.
Researchers have discovered that the street name could have far more significance to the value of your home than may think.
Property website Zoopla.co.uk collected the average price of homes on every British street then worked out the average price for each type of street name.
Addresses with the name 'Hill' in their first line had the highest priced homes, according to the study, averaging nearly £341,500.
At the other end of the scale to the 6,838 'Hill' addresses around Britain, was the more common 'Street', with an average house price of over £155,500 – over £60,000 difference from the country's average of £217,624.
However, commonality was not necessarily an indicator of price; the second most expensive street name, 'Lane', was of an almost equal frequency (45,058 'Lane's compared with 58,687 'Street's) but commanded a substantially higher average value of £328,378.
Zoopla.co.uk commercial director Nicholas Leeming said: "Most people typically don't pay much attention to the name of the road when deciding to buy.
"But it is clear that names have an impact on both property values and the appearance of exclusivity."
One of the most exclusive names was 'Mews' which commanded the third highest average price for the 4,825 'Mews' options.
And the most common address name was 'Road' with almost 145,000 in Britain, yet fetched a healthy £232,391.
Top five most expensive:
Top five lowest priced:
