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It's a nightmare! Houses in `scary' street generally sell for less

PUBLISHED: 16:01 30 October 2018 | UPDATED: 16:18 30 October 2018

Research has revealed that houses with an Elm Street address usually sell for less than average.
Though Elm Street in Ipswich is mainly a commercial street.

Research has revealed that houses with an Elm Street address usually sell for less than average. Though Elm Street in Ipswich is mainly a commercial street.

Archant

Homes in roads named Elm Street can sell for around a third less than the average house price in their area. Could it be because of a certain horror film franchise?

A Nightmare on Elm Street 2 - Freddy's Revenge film posterA Nightmare on Elm Street 2 - Freddy's Revenge film poster

Yorkshire Building Society analysed more than 30 roads named Elm Street using Land Registry data, comparing house sales prices with those in their surrounding postal districts since 2013 ahead of Halloween.

The building society found that on average, homes on streets with the same name as that featured in the A Nightmare On Elm Street horror films sold for 35% lower than the average for their postcode area.

Ipswich is home to an Elm Street and this summer a flat there sold for £83,000.

But not all Elm Streets had typical selling prices lower than their area average - so buyers hoping to grab a bargain may not necessarily be lucky.

Chris Irwin, Yorkshire Building Society mortgage manager, said this could be in buyers’ favour.

He said: “It could be an opportunity to buy a property in an area which they may otherwise have not been able to afford”.

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