Does Street Name Add Value to Your Home?

Does Street Name Add Value to Your Home?

Photo © Adrian Cable (cc-by-sa/2.0)

 

Is a Street pricier than a Close? Can you get more money on London Road than Church Lane? While most of us think immediately of the features of our dream home, do many give a thought to the name of the street it sits on?

We examined the 25 most common street names in the UK to see if there were any trends in their names and whether whatever they’re named after reflects their value.

By searching through sale records on thousands of streets, we’ve identified the most expensive street names, as well as common name themes and what the average value of their names is.

Most Expensive Street Names

According to our research, the 10 most expensive common street names are:

  1. Park Lane (£593,045.75)
  2. London Road (£591,250.00)
  3. Church Lane (£452,917.60)
  4. Mill Lane (£437,114.35)
  5. The Green (£430,213.71)
  6. High Street (£446,540.79)
  7. Green Lane (£414,648.09)
  8. School Lane (£407,596.28)
  9. Church Road (£406,773.21)
  10. Manor Road (£399,417.56)

Park Lane was the most expensive street name in our survey, which will be good news for those who live on one of the over 500 streets of the same name.

Most Expensive Suffix

UK street name suffixes often describe the kind of street they represent, for example, Close is used for a cul-de-sac only, while Lane is used for residential roads.

From our survey of the top 25 street names, we found the average value of each suffix to get an insight into which ones could be worth the most.

The below graph shows the average house price value of the suffixes in our survey against the overall average house price in the UK (black line) which is currently £291,055.

Street Suffix Value Increase (%)
Lane 58%
Green 48%
Road 38%
Avenue 29%
Street 19%
Crescent .73%

Most Expensive Prefixes

There are hundreds of street name prefixes used in the UK, but among the most common street names, there are some prefixes that crop up more than once.

The below graph shows the average house prices of all the street prefixes that appear in our study.

Common Themes

When examining the 25 most popular street names, we noticed some other unifying trends in street suffixes that gave us additional insight into the value of a name.

4 street names referenced royalty (King Street, Victoria Road, Victoria Street, George Street) and two referenced directions (West Street, North Street) so we figured out the average house price across these streets.

Below are the average house prices for the two groups against the overall average house price in the UK (black line).

 

Theme Value Increase (%)
Royalty 24%
Directions 17%

25 Most Popular Street Names

 

Street name No. of streets Average house price
High Street 1951 £423,205.48
Station Road 1732 £385,548.34
Church Lane 1332 £452,917.60
Mill Lane 1157 £437,114.35
Church Road 1068 £406,773.21
Green Lane 1002 £414,648.09
New Road 914 £372,460.06
Park Road 827 £346,907.18
School Lane 772 £407,596.28
The Avenue 607 £382,213.32
London Road 596 £591,250.00
Manor Road 593 £399,417.56
Park Lane 578 £593,045.75
The Green 560 £430,213.71
The Crescent 557 £293,184.45
Victoria Road 555 £361,264.87
West Street 498 £335,267.63
King Street 485 £385,134.37
Main Street 474 £311,155.95
George Street 457 £358,427.26
North Street 435 £344,354.28
New Street 432 £278,056.22
Park Avenue 411 £368,728.73
Victoria Street 393 £343,928.46
Grange Road 385 £358,448.67

Methodology

We identified the most common street names in the UK, then used Streetlist to find all the streets with the same name and their most recent average house price value.

The study examined 18,771 streets across the UK that shared the top 25 most common street names.

The overall average UK house price was taken from research by estate agent Zoopla.