You Won't Believe What Makes Some Properties More Expensive
Published: 17/05/2019
There are a number of factors that come into play when deciding how much to put a house on the market for. Location; the property’s condition; how many bathrooms and bedrooms it has; whether there is a balcony or yard; are some of the first things that come to mind.
However, new research has suggested these factors aren’t the only important considerations made by buyers when they decide how much they are willing to pay for a flat or house.
National fast sale estate agent Springbok Properties analysed property sale records of the properties it sold in 2018. The results were interesting...
It turns out, the price of a property is influenced by its address. And no, we don’t mean location. We mean the address number - be that number 1 or 1001.
The survey set out to discover which house numbers were more valuable than others. Here is what was found:
Top 10 most expensive house numbers in 2018:
1. 713 - £612,847
2. 711 - £580,643
3. 709 - £508,833
4. 855 - £411,200
5. 529 - £407,850
6. 715 - £405,000
7. 417 - £392,738
8. 665 - £385,750
9. 694 - £381,000
10. 607 - £366,411
The research suggested that a single digit home is less likely to make as much money compared to one with two digits or more. Their research states that just one single digit number was spotted in the top 50 most expensive house numbers this year (this was a number 1).
As for flats, the research suggested that people much prefer to buy numbers in the hundreds.
Top 10 most expensive flat numbers in 2018
1. 500 - £808,446
2. 237 - £713,181
3. 190 - £683,463
4. 251 - £658,830
5. 194 - £524,131
6. 1 - £520,808
7. 510 - £512,615
8. 37 - £512,592
9. 195 - £473,700
10. 220 - £462,288
Founder and CEO of Springbok Properties, Shepherd Ncube, stated that some buyers will pay over the odds for a particular number due to sentimental reasons or avoid others because they are superstitious.
What does this research mean for buyers and sellers?
While we’re not entirely sure how scientific these findings are, they are nonetheless thought-provoking.
The research findings do go to show that modern buyers value properties that are located on a top floor, in regards to those located in modern built-up buildings.
Nonetheless, a number of factors will determine how much a house costs and what deal you are able to negotiate.
If you’re in the market for a bargain however, it could be worth searching for single digits!
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Content correct at time of publication.