Regency Living has analysed the latest price paid data from the Land Registry to reveal which street type is most sought after amongst homeowners and boasts the highest average house price, as well as which has seen the largest price increase over the past year.
The data reveals that homes on ‘Hills” command the highest price amongst the nation’s homebuyers, with an average sold price of £370,000 over the last year. ‘Gardens’ commands an average price of £326,125, while ‘Lane’ (£325,000), ‘Park’ (£320,000), and ‘Green’ (£315,000) complete the top five.
But it’s properties on ‘Groves’ that are seeing the most growth, with the largest annual increase in sold prices over the last year, rising by 6% on the year to reach an average of £265,000.
‘Court’ has seen prices rise by 5.3%, followed by Street (5%), Place (4.6%), and Green (4.3%).
Meanwhile, the most affordable street name suffix is Terrace with an average house price of £180,000, followed by Street (£188,000) and Court (£200,000).
“The housing market in England & Wales has become increasingly unaffordable and it certainly seems that the type of road you choose to live on could have a significant impact on the price you pay," said Sales & Marketing Director at Regency Living, Tim Simmons, "Our research shows that it will cost you far more to live on a Hill or Garden versus a Terrace or Court and it goes to show how a name can go a long way in influencing opinion."
