Where to find county’s largest swing between house prices
NEIGHBOURING HOMES IN VILLAGE STREET SOLD FOR £220,000 AND £1.3M
WHILE most areas are pretty consistent in property values, one street in Leicestershire is bucking the trend, with a staggering £1.1 million swing between the lowest and highest house prices.
New research has revealed that one house on the street sold for an enormous £1.3 million this year, while another house, just a few doors down, sold for £220,000 – a difference of £1,080,000.
The two very different houses are located in Church Road, in Kirkby Mallory.
The gaping price gap was highlighted in research by online estate agents Strike.
The enormous house at number 43 that was sold for £1.3 million in July by Open House Estate Agents, comes with six acres of land, a swimming pool, stables and countryside views.
This is in stark comparison to number 26 – just 75 yards away – a three-bedroom property which sold for £220,000 in March.
Using the latest HM Land Registry data, Strike identified the roads with the largest difference in value between the most and least expensive property sold in 2020.
Of nearly 250,000 streets where a house has sold this year, Brompton Square in the Royal Borough of Kensington and Chelsea, in London, has the largest range, with a whopping £11.3 million between its highest and lowest sale.
While the five-bedroom terraced house at number 19 sold for a hefty £17.8 million in April, number 23, less than 20 yards away, sold for “just” £6.5 million a few months earlier.
Perhaps unsurprisingly, nearly all of the top 10 streets are in London, apart from Banks Road, in Poole in Dorset – which is home to football icons Harry and Jamie Redknapp.
Church Road in Kirkby Mallory –
although number one in Leicestershire – came in at 214th in largest variations across the country.
It was one of just 17 streets with a range of over £1 million where the least expensive house costs less than the UK’s average property price, which stands at £244,513.
In that particular table, Church Road comes in 12th place across the whole of the UK.
Sam Mitchell, CEO at Strike, said:
“It’s fascinating that house prices can vary by such large sums within a matter of metres.
“Over 250 UK streets had a value range of over £1 million — and this variation presents an exciting opportunity for buyers and investors.
“Let’s be honest — most of us don’t have seven figures to invest, but this useful insight can be used anywhere.
“Wherever you want to live, looking for a street with a big range in prices may reveal a savvy investment opportunity. You can find streets with big differences in prices all over the country.”