Regal street names can boost value of homes in Eastbourne

Dukes Drive, Meads, Eastbourne. January 9th 2014 E01166Q ENGSUS00120140901154305
Dukes Drive, Meads, Eastbourne. January 9th 2014 E01166Q ENGSUS00120140901154305
1
Have your say

Eastbourne streets with regal or titled names, such as Royal Parade and Kings Drive, can boost the value of homes lining their pavements, property portal OnTheMarket.com has found.

According to new research by OnTheMarket.com, nearly one in 10 house-hunters are willing to pay up to £30,000 more for a property located in a street with a such a royal prefix, suggesting it is not just the reputation of a village, town or city that can add value to a property.

In Eastbourne, such streets include Royal Sussex Crescent, Kings Avenue, Queens Road, Crown Street, Dukes Drive and Princes Road.

In a survey of one thousand house-buyers across the UK, 14 per cent said they would consider paying more for a property that features the prefix Royal in the street name, with King (seven per cent) and Queen (six per cent) as the second and third prefixes with the potential to demand a higher asking price.

While nearly 40 per cent of those questioned in the survey said they might pay up to £5,000 more for a property on a street name with such a historical association, eight per cent would pay up to £30,000 more and three per cent were willing to pay over £50,000.

Royal isn’t the only prefix that helps to command greater value — it also adds the most prestige to a property, according to 37 per cent of the people asked. King, Queen, Crown and Palace all appear in the top five street name prefixes that homeowners believe add gravitas to a property.

Helen Whiteley, commercial director at OnTheMarket.com, said, “There is no question that location is one of the most important elements when buying or renting a new home but it is interesting that a prestigious sounding street name can help to influence a buyer or renter’s idea of price and worth.”

The top street name prefixes that add the most prestige to a property are:

· Royal (37%)

· Palace (17%)

· King (13%)

· Queen (12%)

· Crown (11%)

· Lord (6%)

· Saint (6%)

· Prince (6%)

· Princess (5%)

· Duke (5%)

· Bishop (4%)

· Lady (3%)

· Duchess (3%)

The top 13 street name prefixes that house hunters would consider paying more for a property are:

· Royal (14%)

· Palace (6%)

· Crown (5%)

· King (7%)

· Queen (6%)

· Prince (4%)

· Princess (4%)

· Duke (2%)

· Duchess (2%)

· Lord (3%)

· Lady (2%)

· Saint (2%)

· Bishop (2%)