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Priciest properties located on ‘Lanes’

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12/08/2015
The most expensive properties in the country are typically located on ‘Lanes’, research by Barclays has found.

Houses located on ‘Lanes’ are typically worth over £100,000 more than those located on a ‘Street’, suggesting road names could be a factor in property prices.

The bank worked with property firm Hometrack on the research. It found the average property on a ‘Lane’ was worth £245,906 – 22% higher than the national average.

Homes located on ‘Streets’ were towards the bottom of the list with properties averaging £142,374 -29% below the national average and 42% lower than ‘Lanes’.

The average house located on a ‘Way’ was valued at £218,742 while ‘Road’ properties were typically worth £212,717. ‘Closes’ and ‘Avenues’ were valued at £204,964 and £192,344 respectively.

The South East was home to the biggest price gap in the country. In this region properties on ‘Lanes’ were found to be £137,145 more expensive than those on ‘Streets’.

Compared to 15 years ago, properties on all road names had increased dramatically.

Craig Calder, Barclays director of mortgages, said: “As this data highlights, the last few years have been incredibly buoyant for the housing market and economy, and this is great news for buyers and sellers across the nation.

“While this data paints a clear picture of victory for ‘Lanes’ in the competition between properties, it’s interesting to see the varying statistics from around the country, and a huge growth in value overall.

“If you are considering buying a property, no matter the address, we encourage you to speak to your mortgage adviser on the best options for you.”

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