As the saying goes ‘One man’s trash is another man’s treasure’ or, in the case of properties, one person’s ‘des res’ is another’s dump.
While we might have different opinions about whether having a bus stop directly in front of our home or being next door to a school is an advantage or disadvantage, there are a few factors which definitely have an impact on property prices.
Needaproperty.com recently used Land Registry data to see if rude sounding street names had an impact on house values and lo and behold, they did. So if you want to bag a bargain, look for a property on a street with a cheeky name. According to needaproperty.com research, properties on streets with innuendo laden names were around one fifth or £84,000 cheaper on average than other homes situated nearby.
Other research by Zoopla discovered that living at no.13 drives down the asking price by nearly £4k. Indeed, some new housing developments now don’t have a no.13 at all, skipping straight from no.12 to no.14.
Perhaps a more obvious impact on property prices is whether you’re on a flood plain. Thousands of properties in England and Wales fall within flood risk areas which can not only affect the purchase price but also the insurance premium. We offer a Flood Risk Indicator service, which combines our address data with Environment Agency flood data to identify flood risk for a registered piece of land within England and Wales.
According to the London School of Economics, wind farms can decrease the value of homes within a 2km radius by as much as 12 per cent. According to our data, there are nearly 200,000 registered titles within a 2km radius of the 311 currently operational wind farms in England and Wales.
So maybe it really is about location, location, location (and house number, and street names…..)
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