By comparing property prices on royal-named streets, such as “King” and “William” to those in the surrounding area uswitch.com/mortgages discovered the UK regions where a royal street name affects property value the most – and Preston is on the list.
At 29.95%, homeowners in Tower Hamlets will see the biggest increase in property value by living on a royal street. The average home in Tower Hamlets costs £454,411, but those on a royal street could sell their homes for £590,522, with “William” and “Royal” the most popular royal street names in the area.
Properties on a royal-named street in Greenwich experience the second-largest price increase in the UK. Costing £374,979 on average, properties increase by 26.48% if they are located on a royal-named street - most commonly “King” and “Victoria” - where they sell for £474.282 on average.
How much more could my house be worth in Preston?
If your live on a royal-named street in Preston you could get 9.66% more for your house. The average price for a property in Preston is £151,669, but if you live on a royal-named street, you could expect to get £166,317.
In Lancashire in general, homeowners will be able to sell their homes for 0.9% more. Homes in the area sell for £199,482 on average, while those on a street on a royal name sell for £201,279 on average, meaning a significantly larger price tag for residents of one of Lancashire’s 100 royally-named streets.
Click here to see a history of royal-names streets in Preston.