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”.
Can you afford to buy in this suburb? Find out how much you can borrow
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