Do you live in a road, avenue or close? The answer can affect your home’s value

Fri 14 Aug 2015

Have you ever wondered what the difference between living in a road, avenue, street, lane and close is?

Well, about £100,000 is the answer, according to a new study by Barclays Mortgages.

The lender found there is a huge difference in the value of properties depending on the first line of their address.

And at the top of the table when it comes to expensive street names is the word ‘lane’, which was revealed to be the most valuable address, with an average house price of £245,906.

It was closely followed by ways (£218,742), roads (£212,717), closes (£204,374) and avenues (£192,344).

Surprisingly, it seems living on a street means your home is likely to be worth less money, with properties in these areas found to have an average value of just £142,374, some 29 per cent below the national average.

Across the country, living in a lane is worth more than £100,000 extra in terms of your house price in comparison with setting up home in a street.

In the south-east, this divide is even greater, with a home in a lane said to be worth an average of £137,145 more than a property in a street.

It just goes to show that studying the address of a property while you are weighing up whether to buy it or not can be more worthwhile than you might have realised.

To find out how much your home could be worth on the sales market, click here.

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