A NIGHTMARE ON ELM STREET
HOUSES ON SCARILY-NAMED ROAD SELL FOR £70K LESS THAN AVERAGE
IT’S A ‘nightmare’ on Elm Street for residents selling their homes.
Houses on the small street, off Newsome Road, Huddersfield, sell for, on average, £70,331 less than the local average.
That’s according to research by Yorkshire Building Society (YBS) on 10 years of property sales data since Halloween 2011.
But it’s a dream for buyers who’ve snapped up a property on Elm Street for 47% less than the local average.
Whether this is related to the Nightmare on Elm Street series of horror films from the 1980s is doubtful.
Seven in 10 UK adults would not be dissuaded from buying a home on an
Elm Street, according to YBS. But, more likely due to the location and property type, houses on Elm Streets across the UK sell for an average of £74,608 less than nearby properties.
Continuing the creepy theme, 59% of UK adults said they were willing to buy a house reputed to be haunted if it was cheaper than an equivalent unhaunted property.
Ben Merritt, YBS senior mortgage manager, said: “It seems that some house prices may be affected by a superstitious market, including those on Elm Street in Huddersfield.
“We know that all kinds of reasons can affect prices and it seems that Freddy Krueger’s film franchise can now be added to that list.
“Conversely, our new research shows that seven out of 10 adults in the UK wouldn’t be put off living on Elm Street so for those in the market, their dream home could be just up this street.
“It is worth bearing in mind though that if you have picked up a home for significantly less than the area’s average due to a spooky name, not to be horrified when it comes to selling if this continues to influence the property’s price.”
We know that all kinds
of reasons can affect prices and it seems that Freddy Krueger’s film franchise can be added
to that.