Properties with “lane” in their address sell for significantly more than those with “street”, research by a UK residential property market specialist has revealed.
The research, conducted by Hometrack on homes across the UK, found that houses on “lanes” were fetching, on average, 22% more than the average UK house price, the Daily Mail has reported
The average price of a UK house on a lane is £245,906, compared to the typical average of £201,246.
The second most expensive address is for homes situated on “ways”, where average property prices are £218,742, followed by “road” at £212,717.
Homes with “street” or “drive” in the address are the cheapest, with average prices of £142,374 and £191,675 respectively.
As the Daily Mail report points out, this means that homes with “street” in their address are more than £100,000 cheaper than those with “lane”.
Further, the Daily Mail reports that recent research by British property website Zoopla found that none of the top 10 most expensive streets in London are actually labelled “streets”. Instead, they are situated on “gardens”, “crescent”, “avenue” or “place”.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out