LONDON (Reuters) - Do you live on a lane, a road or a drive? The address could boost the value of your home by as much as 50,000 pounds, the Woolwich said on Friday.
Surveyors who valued more than 3,000 three-bedroomed homes during the summer for Woolwich said their average price was 184,000 pounds.
However, that figure rose to 215,000 pounds if the house was located on a "Lane" and fell to 165,000 pounds if it was on a "Drive" -- a 50,000-pound difference based simply on the first line of an address.
"It is difficult to believe that the first line of an address can have such an impact on house prices," said Andy Grey, head of mortgages at Woolwich.
"Perhaps differences are down to the fact that houses on 'Lanes' and 'Gardens' are often in more desirable, semi-rural locations, whereas 'Roads' and 'Avenues' are much more likely to be in more suburban or built-up areas."
The most exclusive homes were located on Lanes or Gardens, where the average value for both was above 210,000 pounds. Roads came third from top at 196,000 pounds, while Streets came in eighth with an average value of 170,000 pounds.
Least desirable were homes in Groves or Drives, with an average value of less than 170,000 pounds. Avenues, meanwhile, were average.