Does the name of your road affect your property value?

Although the vast majority of buyers say they’re not concerned about the street name of a potential new home, research carried out by Zoopla some years ago found that higher value homes are often associated with certain street suffixes.

Topping the list are ‘Hill’, ‘Lane’, ‘Mews’, ‘Park’ and ‘Green’. If you’re on a Hill or a Lane, your home is likely to be worth 50% more than the national average, with ‘Church Lane’ being revealed as a particularly valuable address, at up to 60% above average prices.

Here are the 15 most expensive street names and the average house prices, according to Zoopla's analysis of more than 28 million homes across the UK:

1. Warren
2. Chase
3. Mount
4. Path
5. Park
6. End
7. Green
8. Way
9. Hill
10. Lane
11. Gardens
12. Paddock
13. Walk
14. Rise
15. Lawns

At the bottom of the value table are ‘Street’, ‘Terrace’, ‘Crescent’ and ‘Court’. If you happen to live on ‘Chapel Street’, average prices sit at around 25% below the national average.

But don’t read too much into this! Quite simply, more expensive properties tend to be in less densely populated areas and more exclusive or rural locations, such as on a green, up a hill or down a lane. And the reverse is true for lower-priced, more affordable homes, which will tend to be on terraces and streets in towns and cities, or newer estates designed with crescents and courts. Essentially, you’re not going to increase the value of a row of two-bed terraced houses simply by changing the road name to Clover Hill!

Meanwhile, because homes that are close to amenities and transport links tend to be in particularly high demand, it’s worth noting that property values in ‘High Street’ and ‘Station Road’ are generally higher than average.

But what actually makes the most difference to property prices is supply and demand. The more unique and rarer a home is, the more likely buyers will compete for it, pushing the value up. Conversely, if there are hundreds of similar properties in the area that are regularly bought and sold, that will generally keep prices down.

The demand from buyers and supply of homes - in terms of the number and types of properties that come on to the market - will go up and down according to things like local and national economies, the time of year, and national and world events. And it’s important to know that every area has its own micro-markets, which depend on specific local factors that are unlikely to have anything to do with the road name!

If you’re thinking of selling a property, our local area experts are here to help ensure you get the best price. Just get in touch with the team in your nearest branch and they’ll be happy to arrange a free valuation.