You are here: Home - Mortgages - First Time Buyer - News -

Priciest properties located on ‘Lanes’

Written by:
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.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week