Mixed in with all this are regional disparities, such as we're seeing at the moment between London and the North West for example. Zeroing in even further you will even see highly localised gaps between house prices in one part of a county and another or even individual towns for that matter.
There is a lot to consider why this would happen. It's fascinating stuff really. But sometimes, it doesn't have to be a very complicated reason for the value of your home to wildly differ from that of properties on other streets in your neighbourhood.
From The Knob to Fanny Hands Lane, it's fair to say that the UK is home to some 'unusual' street names.
Regulated property buyers, GoodMove, decided to analyse some of the funniest in the UK to highlight how they affect house prices compared with other streets in the same postcode area.
Using data from Gov.UK, GoodMove's research reveals the ten funniest street names that have the biggest positive impact on house prices, based on the percentage difference between them and other houses in the same postcode:
Twatling Road, Birmingham, B45 (96%)
Willey Lane, Nottingham, NG16 (88%)
Dumb Woman’s Lane, Tunbridge Wells, TN31 (80%)
Backside Lane, Doncaster, DN4 (51%)
Hornyold Road, Worcester, WR14 (50%)
Cock-A-Dobby, Guildford, GU47 (42%)
World’s End Road, Birmingham, B20 (32%)
All Alone Road, Bradford, BD10 (26%)
Spanker Lane, Derbyshire, DE56 (22%)
Turkey Cock Lane, Colchester, CO3 (19%)
Twatling Road in Birmingham is the street name with the biggest positive impact on house prices, with the average on this street standing at £704,104 compared to the average of £246,027 in the same postcode area. That’s a staggering difference of 96% - and some lucrative real estate.
Nottingham’s Willey Lane follows behind, with average house prices here standing at £422,000 compared to the £163,755 average in the same postcode area (88% difference). Dumb Woman’s Lane in Tunbridge Wells takes third place, average house prices on this street stand at £797,525 compared to the £341,655 average in the TN31 postcode area (80% difference).
But while some humorous street names have positively impacted house prices, the same can’t be said for others.
Looking at the research, the ten funniest street names that have the biggest negative impact on house prices, based on the percentage difference between them and other houses in the same postcode, are:
Goosebutt Street, Sheffield, S62 (89%)
Butt Close Lane, Leicester, LE1 (53%)
Cumming Street, London, N1 (45%)
Hooker Road, Norwich, NR7 (38%)
Fanny Hands Lane, Lincoln, LN8 (36%)
Christmas Pie Avenue, Guildford, GU3 (36%)
Hardon Road, Wolverhampton, WV4 (34%)
The Knob, Oxford, OX17 (33%)
Minge Lane, Worcester, WR8 (33%)
Cockshoot Close, Oxford, OX29 (21%)
It’s bad news for anyone living on Goosebutt Street in Sheffield, with average house prices standing at £49,046, compared to the average of £127,047 in the same postcode area -that’s a huge 89% difference.
Butt Close Lane in Leicester comes in second place, with average house prices standing at £210,952 compared to the £361,302 average in the same postcode area (53% difference). Cumming Street marks London’s only introduction in the list, with average house prices standing at £508,555 compared to the £806,399 average in the same postcode area (45% difference).
Shockingly, the more pleasantly named Christmas Pie Avenue finds itself on this list, with average house prices on this street standing at £422,349 compared with the £608,235 average in the GU3 postcode area!
Nima Ghasri, Director at GoodMove, says: “Who knew the UK had such funny street names? We wanted to explore the funniest street names in the UK and see how much house prices can be affected depending on the street you live on.
“Although other factors come into play, it’s shocking to see how much house prices can be impacted due to the street name they are on compared to other house prices in the area, although it’s even more surprising to see some house prices have been positively impacted. Either way, it's fun to see all these funny street names up and down the country!”
