What’s in a name? About £400k
- Credit: Archant
Forget about location, location, location – when it comes to having a high value home, it’s all in the name.
According to recent research by Zoopla, the priciest properties in the UK are on a ‘Warren’ – and their average price is £607,267.
The next most expensive are homes on a ‘Chase’, followed by those on a ‘Mount’, ‘Path’ or ‘Park’.
At the opposite end of the spectrum are homes on a humble ‘Street’ - whose average value is just £184,722 – followed by those on a ‘Court’ and a ‘Terrace’.
Lawrence Hall from Zoopla said: “Our research shows that even the road name you choose can make a difference to how much you can expect to pay when finding a property.
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“Where a ‘Warren’ might appeal for those looking for exclusivity, ‘Streets’, ‘Courts’ and ‘Terraces’ could offer more affordable options.”
Exclusivity certainly seems to be a factor in the road name/high property price stakes – there are just 1,833 UK homes located on a ‘Warren’, compared to 1m on one of the country’s many ‘Streets’.
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The most common name of all is ‘Road’ however, with 2.1m properties sharing this down-at-heel moniker.
Before we all up sticks and move to the nearest ‘Warren’ in a bid to make our property fortune, we’ll first have to spend one – The Warren in Radlett currently has a five-bed home on the market for sale for £1.75m. The price you pay for exclusivity...