A home fit for a King or Queen
The royal road names that add over £100K to property prices
- Addresses with King, Princess and Queen are on average worth over £100K more than neighbouring streets -
Buying a house is usually the biggest personal investment someone makes. With house prices being affected by so many factors, it can be difficult to decide where and what to buy.
But how important are road names to the price of a property?
The royal family is a big part of our national culture, whether you support them or not. So much so, there are over 3,000 streets, roads and cul-de-sacs paying homage to all things regal.
As house prices continue to rise across the UK, comparison site Compare My Move has analysed 500 royal-themed road names to find out whether properties are more or less expensive than the average property price in neighbouring streets.
The study reveals that living on the following 12 royal-related road names increases property prices by tens and even hundreds of thousands of pounds, on average.
Living on a road with “King” in its title makes your property worth nearly £170,000 more than the average property price in the local area:
Following closely in second place are “Princess” road names where home buyers fork out an average extra £150,000 for the privilege.
Of the roads studied, the average house price on Princess related street names is £550,853. This, compared to the average house price in the local area of £400,919, means the royal stamp of approval adds an additional £149,934 to the price of a home.
Although HRH Queen Elizabeth is presently the head of the British Royal Family, the study reveals that when it comes to a royal premium, Queen related street names come in third place.
The study found Queen related road names were, on average, worth £120,000 more than neighbouring properties – an increase of almost 35 percent.
And just like in the real royal household, not all titles are created equal.
Baron, Duchess, Duke and Earl make the top ten regal-themed road names but add under £100,000 to the price of a property in the UK.
Importantly, not all royal households enjoy the financial benefits. The study also reveals that some regal themed street names can in fact decrease the value of your home compared to the local average.
“Royal” and “Crown” titles have the worst impact, decreasing house prices by an average of £79K and £70K respectively.
Other royal-related road names that could also negatively affect your property’s value are:
· Sovereign (- £29.5K)
· Prince (- £25K)
· Coronation (- £17.9k)
· Jubilee (- £16K)
· Knight (- £15.9K)
· Castle (- £10K)
Dave Sayce, Founder and Director at Compare My Move commented:
“There are plenty of factors to consider when purchasing a home and in this case, if your dream home is located on a royal road in our top 10, then you could be onto a winner.
However, homebuyers should never base their decision solely on the name of a road as there are many other factors that can affect a property’s desirability and price.
Once you’ve found your perfect property, always instruct a conveyancer to carry out local land searches and organise a survey to highlight any structural issues before you complete.”
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