"In today’s market, living along one of these road names could be just the ticket if you’re looking to secure a better price when compared to a similar property a few streets down."
New research has revealed which road names have seen the largest number of transactions amongst homebuyers across England and Wales.
GetAgent looked at the road names with the highest number of transactions in 2020 and found that High Street, Station Road and Main Street were the most common road names when it comes to the number of property sales so far this year.
Church Road, London Road, Church Street, Park Road, Church Lane, Victoria Road and Main Road also ranked highly.
However, when it comes to the highest price paid, The Street ranks top with a medium sold price of £357,500, with Church Lane (£317,000) and The Avenue (£311,000) also commanding the highest sold prices when it comes to the top 20 most popular road names.
When it comes to the type of street name, it’s perhaps predictably, Road that tops the table with nearly 47,000 transactions completing so far this year with addresses including it.
Close was the second most common with nearly 15,000 transactions, with Street (13,821), Avenue (12,084) and Drive (9,228) also amongst some of the most popular.
Where the highest sold price is concerned, homebuyers are paying premiums for greenspace even if it is only in the name. Of the top 20 most popular types of road, Hill ranks number one on price with an average sold price of £300,000.
Garden and Park also rank high with properties commanding an average sold price of £275,000, with Lane (£270,000) and Green (£260,000) also amongst some of the most expensive.
Founder and CEO of GetAgent, Colby Short, commented: “When it comes to the most popular road names and types, this is almost certainly influenced by a higher number of ‘High Streets’ and ‘Roads’ being available across the UK property market, and they top the table by quite some margin.
"However, it’s interesting to see that when it comes to the price paid by homebuyers, names that carry an air of exclusivity or prestige such as ‘The Street’, ‘Hill’ or ‘Garden’, command a far higher price than ‘Terrace’, for example.
"This is ultimately down to the area itself, however, some buyers will still consider a road name as a reason to either offer above the odds or to keep on searching.
"In today’s market, living along one of these road names could be just the ticket if you’re looking to secure a better price when compared to a similar property a few streets down.”