To mark our new monarch’s birthday this weekend, Nested, the trendy property agent, has analysed highway names throughout the nation which might be match for a king, revealing that on common, they arrive in 20% extra inexpensive than the remainder of the housing market.
Nested analysed the final 12 months of Land Registry worth paid information for houses to have bought on roads whose names comprise a nod to the King, discovering that the common home worth throughout all of them comes to only beneath £250,000.
Regardless of the Royal connection, that is really 20% extra inexpensive than the nationwide common throughout England and Wales.
Houses on roads whose names comprise the phrase ‘King’ have seen by far the best variety of transactions of all Royal names featured within the examine with 4,344 transactions during the last yr.
Nevertheless, it’s highway names that comprise the phrase ‘Palace’ that command the best worth with the common residence costing £475,000, 37% above the nationwide common.
Highway names containing the phrase ‘Royal’ additionally command an above-average worth over the previous 12 months, however solely marginally. At £300,000, the common worth at present sits 0.2% above England & Wales.
The remaining highway names – Throne (-47%) Charles (-44%), Present (-33%), Monarch (-23%) Citadel (-16%), and King (-7%) all supply a extra inexpensive route onto the property ladder when in comparison with the broader common throughout England and Wales.
Alice Bullard, Managing Director at Nested, the trendy property agent stated, “Who would have thought that turning your property search to a Royal highway title would end in a extra inexpensive property price ticket?
It’s lengthy been widespread for roads to be given aspirational highway names, and with the frequency of huge Royal occasions that we’ve had in recent times, it’s seemingly that plenty of newly created roads have been named in honour of these events.
This can embody inexpensive areas, and inexpensive developments in costlier areas, a lot of which could have come up on the market for the primary time previously yr. Maybe this explains such princely affordability?”