Many of us feel strongly about whether our home address is on a Road, Street, Crescent or Square. Property developers especially often assume that one will attract a higher price than another. To test the theory, Waterfords Estate Agents explored 2017 sales data to see whether we could identify any correlation between suffix and house price.
The average price of a property sold on a "Road" to date in 2017 is £301,950, however there are premium purchase properties elsewhere. To purchase on a “Park” expect to pay a 9% premium while to purchase on a “Place”, “Hill”, or “Garden” could add thousands to your purchase price.
Owning a property with no street address at all added £10,000 compared to one located on a “Road”. At the top end of the budget, just 0.5% of all properties sold this year have been on a “Square”, where the average price is £462,895, a stunning 53% more expensive than a “Road”. But “Road” has kerb appeal for more buyers than any other address, accounting for a substantial 30.7% of all residential property sales this year.
Whatever your address, contact your local Waterfords Office to find out how much your home is worth.