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jonathan levy

Do street names effect prices

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I'm thinking about buying a house in a "Cemetery Road". It looks like it needs a little refurb but not a lot. It's currently on the market for 68k. It's a 3 bed terrace. 3 bed terraces in the next street are up to 190k. I can't think why there would be such a huge difference. 

So...do street names have a negative/positive effect on a properties price?

Cheers
Jon

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What are you planning on doing with the property, flipping, BRR, personal etc..

Personally I can’t see what a street name would have any impact on price, certainly not that much of a difference! There must be different factors as to why the property prices differ that much from one street to the other.

best wishes

Jase

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Where I live the houses are in the region of £230-300k (mix of flats, 2 beds and 3 beds). Walk 100 metres onto the main road and the prices almost double! This is primarily because our house is part of a 1980s ex council estate built onto the back of, and around all of the 1930s houses that were there before. In some cases, the house prices change that much by literally hoping from one garden fence to another! I also know of a place where the first few houses on a street are nearly £1million and the street literally morphs into an ex-council estate. I think in this area there was/is a concept of trying to mix some of the demographics so as not to segregate or cause one area to become overly deprived. So I think you have to be really careful with the whole "comps in the same street" thing.

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I have actually come across this before and guess what, I spun it the other way and my tenants loved it:  something like Cemetery Road is easy to remember!  But remember it's really not important to a lot of people, so it's probably not that... 

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