Could the name of your street affect your house's value?

March 12, 2015 - PRLog -- Now a new piece of research examines how much extra value the right street name can add to a property. The research was conducted by the Land Registry and based on prices paid for properties between January and November 2014. Although Winkworth central London estate agents agree that this new study should not be taken too seriously - as it was undertaken on a nationwide basis and therefore not representative of streets in the capital - it makes for interesting reading, tapping into the superficial side of house buyers who may make assumptions about an road purely based on the name.

The street names that added the most value, as cited by the Land Registry, were:-

Square
Added value: £270,033
Average price: £529,341

Garden(s)
Added value: £76,293
Average price: £335,601

Place
Added value: £64,021
Average price: £323,329

Mews
Added value: £51,244
Average price: £310,552

Lane
Added value: £43,009
Average price: £302,317

Interestingly, the monikers Court, Close and Terrace were found to have a negative effect on house prices. If you have a property for sale in central London and are worried this latest news will wipe thousands of pounds off its value, fear not.  Every street and property is appraised on an individual basis and central London features terraces, courts and closes with just as high residential values as squares and gardens.

In fact, some of central London's most expensive dwellings can be found with a terrace address. One of the world's most expensive houses is located at 18 Carlton House Terrace near Buckingham Palace - it was marketed for sale with an asking price of £250 million in 2013.

Terraces certainly have a different connotation in central London, especially those built in the Regency period. Architects John Nash and Decimus Burton spearheaded the introduction of lavishly-designed townhouse terraces including examples such as Cambridge Terrace, Chester Terrace and Hanover Terrace, where dwellings regularly sell for in excess of £10 million.

Winkworth central London estate agents (http://www.winkworth.co.uk/regions/central-london) also highlight the area's private closes and prestigious courts, where property prices have always strong despite their name.

The Land Registry's research makes a great dinner party topic but it should be taken at face value. For an accurate appraisal of your property - whether it's in a road, street, close or court - contact a respected central London agent.