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Fright for property sellers

Living on Elm Street will slash your home’s value

Elm StreetIt’s been confirmed – living on Elm Street really is a nightmare. New analysis of addresses around the UK has discovered that property prices in streets named after the famous 1984 slasher movie are lower than in neighbouring roads.

Online estate agents HouseSimple.com found that living on Elm Street may knock up to 56.9% off the value of your home.

HouseSimple.com looked at average house prices on 20 Elm Streets across the UK, and discovered that they were, on average, 38.8% lower than the average house price in the local postcode area.

Homeowners in Elm Street, Clarkston, Glasgow may be forced to sell at more than a third of the value of homes in neighbouring streets.

The curse of Elm Street has hit the village of Seaton Burn in Newcastle particularly hard – the average property price on Elm Street here is 56.9% lower than the average for the postcode area. That’s a price difference of more than £120,000.

Elm Street in Stockport shows the smallest differential, but even on this street your home will be worth £37,410 under the average for the area.

The following table shows the difference in average price between a property on Elm Street and the average house price in the local area.

Elm Street in…

Average property price in postcode area (£)

Average property price on Elm street (£)

Price difference (£)

% price difference

Seaton Burn, Newcastle upon Tyne

£213,428

£92,000

£121,428

56.9%

Eccles, Manchester

£150,201

£65,000

£85,201

56.7%

Blackburn

£122,172

£56,000

£66,172

54.2%

Cheltenham

£236,578

£111,000

£125,578

53.1%

Holywell Green, Halifax

£200,988

£95,000

£105,988

52.7%

Buckingham

£360,764

£191,000

£169,764

47.1%

Langley Park, Durham

£132,031

£71,000

£61,031

46.2%

Huddersfield

£144,005

£81,000

£63,005

43.8%

Burslem, Stoke-on-Trent

£103,124

£59,000

£44,124

42.8%

Whitworth, Rochdale

£132,039

£76,000

£56,039

42.4%

Borrowash, Derby

£233,366

£137,000

£96,366

41.3%

Clarkston, Glasgow

£227,476

£146,000

£81,476

35.8%

Wolverhampton

£180,331

£125,000

£55,331

30.7%

Leeds

£132,031

£94,000

£38,031

28.8%

Birkenhead

£85,860

£64,000

£21,860

25.5%

Dundee

£164,248

£123,000

£41,248

25.1%

Hull

£108,048

£83,000

£25,048

23.2%

Roath, Cardiff

£172,515

£138,000

£34,515

20.0%

Peterborough

£178,063

£145,000

£33,063

18.6%

Bredbury, Stockport

£234,410

£197,000

£37,410

16.0%

Alex Gosling, chief executive of HouseSimple.com said: “It sounds like a horror movie sequel, but for hundreds of homeowners, the curse of Elm Street is a grim reality. Our figures reveal that living on this infamous street does affect the value of your home!

“We found more than 70 Elm Streets across the UK, and chose a sample of 20 Elm Streets from different areas of the country. Spookily, house prices on all of these Elm Streets were significantly lower than the average house price in the local area.

“We are a superstitious nation, so perhaps lower house prices are the only way to tempt people into braving the supernatural and buying here.”

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