What’s in a street name? Over £600k if you live on a ‘Warren’
27th January 2016
- Properties located on ‘Warrens’ are worth more than double the national average
- Properties on ‘Streets’, ‘Courts’ and ‘Terraces’ have the lowest average property values across the UK
- Homes on ‘King’ and ‘Prince’ related roads are worth more than those with ‘Queen’ or ‘Princess’ in their name
- Streets named ‘Elizabeth’ are the most valuable ‘royal’ roads
Properties located on ‘Warrens’ are worth more than double the national average house price, according to leading property website Zoopla.
Zoopla, which provides free value estimates for every UK home, analysed over 28 million homes to identify the top 1000 most common street names in the UK. The analysis revealed that the highest value properties in the country are to be found on a ‘Warren’, where the average house price stands at £607,267 – nearly 73 per cent more than the £282,978 current average value of a home in the UK. The second most expensive addresses are found on a ‘Chase’ where the average home will set you back £482,867, followed by ‘Mount’ where properties are valued at an average of £390,500.
The least expensive properties can be found on the common ‘Street’, where the average home is valued at £184,722 – less than two thirds of the national average. Other names at the bottom of the list include, ‘Court’ (£190,851) and ‘Terrace’ (£194,403).
The data also shows that living on a royal road can mean your home is worth more than the UK average, but not all regal roads lead to loftier house prices. Research from Zoopla found that properties on roads with ‘King’ in the name are valued at 20 per cent more than those containing the word ‘Queen’ (£299,572 versus £249,295) and those featuring the word ‘Prince’ are valued at 35 per cent more than those containing ‘Princess’ (£279,593 versus £180,249).
Not only is the Queen head of the monarchy, ‘Elizabeth’ also tops the list of the most expensive royal-related locations, with properties on roads containing her name estimated at £291,381. However, the rest of the current Royal Family does not fare as well, with their street namesakes falling below the national average value. Streets with the same names as the Queen’s great grandchildren ‘George’ and ‘Charlotte’ are worth £249,768 and £167,076 respectively. Will and Kate’s popularity also fails to translate to property price value, as homes on ‘William’ (£143,762) and ‘Catherine’ (£142,799) named roads are both worth just over half the national average.
The most common residential location and home to 2,125,670 properties in the UK is ‘Road’, where the average value property is £293,403, followed by ‘Street’ with 1,036,227 properties and ‘Close’ with 325,528 properties averaging £268,957. The most common road names in the UK are ‘High Street’ and ‘Station Road’, with 3,285 and 2,560 homes respectively.
Lawrence Hall of Zoopla commented: “The saying goes that the three most important factors in buying a house are location, location, location; 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. Where a ‘Warren’ might appeal for those looking for exclusivity, ‘Streets’, ‘Courts’ and ‘Terraces’ could offer more affordable options.”
Highest value streets by name
|Rank||Street Suffix||Avg. Home Value||#in the UK|
Highest value streets by royal title
|Rank||Prefix||Avg. Home Value||#in the UK|
Highest value streets by royal name
|Rank||Prefix||Avg. Home Value||#in the UK|
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