There are over 3,000 royal-related street names across the UK according to the Land Registry. But have you ever considered that these streets could be costing the average buyer thousands more purely because of their regal title?
We’ve trolled through over 500 of these royal-related streets to identify if their average house price is more expensive than their surrounding areas.
We can reveal that if you live on any of the following royal-related streets, your house could be worth thousands more than your neighbours’.
On average, living on any road with a ‘King’ related name will see your house value increase by almost £170k compared to the surrounding area.
From analysing 25 street names across the UK with a ‘King’ related name, we can reveal the average house price is around £552,605. The average price for the surrounding area of these streets was £383,971.
‘Princess’ titled roads come in as the second most expensive (not ‘Queen’ – although this does come in at third). The average house price on roads with a ‘Princess’ related name is £550,853. The surrounding area costs £400,919 – meaning it costs an additional £149,934 to live on a ‘Princess’ themed road.
On the other hand, living on any road with a ‘Monarch’ related name costs an extra £5k compared to your neighbours. So, not all royal-related roads are created equally.
Whether you are a first time buyer or a seasoned mover, there’s already a lot to understand about the house buying process and what to consider when calculating the cost of moving house. But now it seems there is another factor to add to the equation – the street name.
A house on a royal-related street could prove to be a wise investment – especially any road named ‘King’, ‘Princess’ or ‘Queen’ as they could be worth at least £100k more.
To obtain this data, 25 streets were sampled for each royal-related term. The average house price for each specific street was recorded, as well as the corresponding average price for the surrounding area. Another average was taken across all 25 sample streets, as was the average for the corresponding 25 surrounding areas. Finally, the average surrounding area price was subtracted from the average royal street price to find the ‘additional cost to live on a royal road’.
For some royal-related terms, there weren’t enough streets to reach the sample minimum. Therefore, these were discounted from the analysis.