Mouseprice.Com's Most Affordable Street Rankings

MOUSEPRICE.COM’S MOST AFFORDABLE STREET RANKINGS 2010

CONTENTS

National Report ...... 3

How have these streets been identified? ...... 4

Average price value of the top 10 streets in each region ...... 4

The East ...... 5

East Midlands ...... 6

Greater London ...... 7

THe North East ...... 8

The North West ...... 9

The South East ...... 10

The South West...... 11

Wales ...... 12

The West Midlands ...... 13

Yorkshire and the Humber ...... 14

Notes to Editors ...... 15

Ranking method ...... 15

About Mouseprice.com ...... 15

Press Enquiries…………………………………………………………………………………………………………………………………………………………….. 16

NATIONAL REPORT

Rank Street Locality Postcode Average Value Region 1 Fernhill Mountain Ash CF45 £28,600 Wales 2 Oxford Street Brierfield BB9 £32,800 North West 3 Ann Street South Bank TS6 £32,900 North East 4 Edward Street South Bank TS6 £34,200 North East 5 Scarborough Street Middlesbrough TS6 £34,400 North East 6 Redcar Road Middlesbrough TS6 £34,400 North East 7 Victoria Street South Bank TS6 £35,600 North East 8 Wood Street Burnley BB10 £35,700 North West 9 Elmwood Street Burnley BB11 £35,800 North West 10 Altham Street Burnley BB10 £35,900 North West 11 Dan Yr Heol Aberdare CF44 £36,000 Wales 12 Spencer Street Burnley BB10 £36,400 North West 13 Thorgam Court Grimsby DN31 £36,400 Yorkshire & the Humber 14 Wellington Walk Washington NE37 £36,500 North East 15 Craven Street Brierfield BB9 £36,700 North West 16 Hurtley Street Burnley BB10 £37,000 North West 17 Binswood Close Coventry CV2 £37,300 West Midlands 18 Colville Street Burnley BB10 £37,700 North West 19 King Street Middlesbrough TS6 £37,700 North East 20 Morrison Avenue Maltby S66 £37,800 Yorkshire & the Humber

The Mouseprice Most Affordable Street Rankings 2010 can today reveal that the street with the lowest average property value in England and Wales is Fernhill, CF45, which is located north of Cardiff in Wales and has an average value of £28,600. Fernhill has held on to the top spot for the second year in a row, as a result of recent low sales. The average value of property in this road has increased from last year, when the figure stood at £24,640.

Second place goes to Oxford Street, BB9, with an average value of £32,800. This road in the North West was at number 6 last year, with an average value of £30,600. Oxford Street is located a short distance from Brierfield railway station and the M65.

The third most affordable street in England and Wales is Ann Street, TS6, in east Middlesbrough. The road has an average property value of £32,900. Despite this low figure, the value has actually risen from £26,910 in last year’s report, when the street ranked at number 5. Ann Street is located in the South Bank area, south of the River Tees and was also ranked at number 5 in the 2008 report.

The North East and the North West heavily dominate the rankings, with three quarters of the most affordable streets appearing in these 2 regions. 8 of the streets are located in the North West, while 7 are in the North East. The other regions that appear on the list include Yorkshire & the Humber, which appears twice, Wales, which is also listed twice and the West Midlands, which makes one appearance at number 17. Evidently, the North-South divide still exists, as none of the southern regions make an appearance in the report.

All of the streets which featured in last year’s national report (7 out of the 20) experienced small increases in value.

This list may include properties in streets which have not sold in normal free market conditions, such as ‘right to buy’ and compulsory purchase schemes or areas already subject to demolition and regeneration.

HOW HAVE THESE STREETS BEEN IDENTIFIED?

Property information providers, Mouseprice.com, have used Land Registry price paid data to calculate current average property values for every street in England and Wales. The average property values are based upon previous transaction data and indexation calculations. The Land Registry dataset includes all properties sold since April 2000. In certain circumstances, these lists may include properties in streets which have not sold in normal free market conditions, such as ‘right to buy’ and compulsory purchase schemes or areas already subject to regeneration and or demolition. Similarly, since values are calculated using previous transaction price data, value added through home improvement spend or area regeneration since the last transaction on each property will not be reflected in the average property price for each street.

For further information about Mouseprice.com please consult the notes section of this document, or visit http://www.mouseprice.com

The property opposite is currently for sale in Elmwood Street in Burnley (number 9 in the rankings) with the Independent Mortgage Company.

AVERAGE PRICE VALUE OF THE TOP 10 STREETS IN EACH REGION

The data below lists the average property values of the top 10 streets in each region. The data shows that the North East is the most affordable region in England and Wales, with the 10 least expensive streets here displaying an average value of £36,050.

As in previous years, there is a clear North/South divide, with northern areas displaying lower property prices than those in the south. However, it is interesting to note that the South East has risen in the rankings from last year’s number 7 to this year’s 5th place. Additionally, every region’s average has risen from last year.

Another interesting observation is that the average of the top 10 most affordable streets in Greater London is above £100,000. This was not the case last year, when the average was £99,740.

Rank Region Average of top 10 streets 1 North East £36,050 2 North West £36,430 3 Wales £39,980 4 Yorkshire & the Humber £40,770 5 South East £45,320 6 West Midlands £46,390 7 East Midlands £48,080 8 East £54,700 9 South West £67,020 10 Greater London £101,140

THE EAST

Rank Street Locality Postcode Average Value 1 Riley Avenue Jaywick CO15 £49,000 2 Austin Avenue Jaywick CO15 £49,700 3 Bentley Avenue Jaywick CO15 £50,800 4 Sunbeam Avenue Jaywick CO15 £51,200 5 Brooklands Jaywick CO15 £52,000 6 Humber Avenue Jaywick CO15 £56,600 7 Hillman Avenue Jaywick CO15 £56,800 8 Brooklands Gardens Jaywick CO15 £58,200 9 Tilton Court Welland PE1 £61,200 10 Oak Close Fornham St Martin IP28 £61,500

The Mouseprice Most Affordable Street Rankings 2010 can reveal that the most affordable street in the East of England is Riley Avenue, CO15, with an average property value of £49,000. This street is right next to the coast in Jaywick, south-west of Clacton-on-Sea. This is the first time that this road has made the top 10 list.

The second most affordable street in the East is Austin Avenue, located very close to Riley Avenue. The average value for a property here is £49,700. Although the street did not make it to the top 10 in last year’s rank, it did rank at number two in the 2008 report, when it had an average value of £53,800.

Coming in at number three is Bentley Avenue, which is within close walking distance to the top two and is also located in CO15. Property values here average £50,800. This is another new street to enter the rankings.

Overall, the average house prices in postcode district CO15 have risen in value slightly from last year. This year’s list shows that the majority of the top 10 most affordable streets in the East of England are located in the postcode district CO15. Streets which appear in this postcode make up eighty per cent of the rankings. All of the streets listed in CO15 are very close to one another and are next to the seashore.

EAST MIDLANDS

Rank Street Locality Postcode Average Value 1 George Street Langwith NG20 £46,000 2 Upper Cross Street Northampton NN1 £46,200 3 Recreation Drive Shirebrook NG20 £46,700 4 Lord Street Mansfield NG18 £47,700 5 Wilkins Drive Allenton DE24 £47,800 6 Portland Street New Houghton NG19 £48,700 7 Fenwick Street Warsop NG20 £48,700 8 Britannia Terrace Gainsborough DN21 £49,300 9 New Lane Stanton Hill NG17 £49,300 10 Morrell Bank Nottingham NG5 £50,400

George Street, located in Langwith, NG20, has made it to the top of the 2010 most affordable list, with an average property value of £46,000. It came in at number two in last year’s rankings, with an average property value of £42,570. The housing stock on this road comprises semi-detached and terraced properties.

The second least expensive street, appearing for the first time in the top 10 list, is Upper Cross Street, NN1, with an average property value of £46,200. One reason for the low sales is that the property stock on this street is made up of flats.

The third most affordable street is Recreation Drive, NG20. This street has stayed in the same position as last year, although the average price has risen from £42,840 to £46,700. The properties on this road are terraced.

There is a large mix of different postcode districts in this year’s top 10 list. NG20 appears the most frequently in the rankings, accounting for thirty per cent of the top 10 most affordable streets. This postcode district, which contains George Street, Recreation Drive, and Fenwick Street, is located north of Mansfield, east of Chesterfield and south of Worksop.

Overall, the average house prices of the streets in these rankings have increased in value since last year.

GREATER LONDON

Rank Street Locality Postcode Average Value 1 Kingsbridge Circus Havering RM3 £94,500 2 Baltimore Place Bexley DA16 £95,500 3 Saltford Close Bexley DA8 £95,700 4 Thomas Lane Lewisham SE6 £95,900 5 Willow Tree Walk Bromley BR1 £97,200 6 Heatherwood Drive Hillingdon UB4 £104,100 7 Arthur Street Bexley DA8 £104,900 8 Becton Place Bexley DA8 £105,100 9 Baird Avenue Ealing UB1 £108,800 10 Fantail Close Greenwich SE28 £109,700

Mouseprice today reveals that the most affordable street in Greater London is Kingsbridge Circus, located in RM3. The average property value in this road is £94,500. Although Kingsbridge Circus did not appear in the 2009 rankings, it was number three in the 2008 report. The postcode district RM3 also contained the number 1 street in 2008’s list, although the street was Leamington Close, which doesn’t appear this year. On Kingsbridge Circus, half of the side of the circus is circled by a crescent. The road is located close to the A12 and not too far from Harold Wood railway station.

In the number two spot this year is Baltimore Place, which was at number one in last year’s report. This year, Baltimore Place has an average value of £95,500, compared to £91,900 last year. This street is located in DA16, which is in Welling, just east of Greenwich. The street is close to Welling railway station and is just off the A207.

Not too far from Baltimore Place and coming in at number three is Saltford Close, in DA8. Properties here are worth an average of £95,700. Saltford Close was not included in the 2009 top ten most affordable streets list, but was ranked at number five in 2008, when the average value was £104,400. Saltford Close is located adjacent to the River Thames, near Erith railway station and the A206 and A2016.

The only postcode district to appear more than once is DA8, which contains 30 per cent of the streets on the list. The majority (70 per cent) of the streets are located in the south east of Greater London. Two of the roads in the listings, Heatherwood Drive in UB4 (ranked at number 6) and Baird Avenue in UB1 (number 9) are located in the west of Greater London. The remaining street, Kingsbridge Circus, which is this year’s number 1, is located in the north east of the region. House prices have risen slightly from last year’s results.

THE NORTH EAST

Rank Street Locality Postcode Average Value 1 Ann Street South Bank TS6 £32,900 2 Edward Street South Bank TS6 £34,200 3 Scarborough Street Middlesbrough TS6 £34,400 4 Redcar Road Middlesbrough TS6 £34,400 5 Victoria Street South Bank TS6 £35,600 6 Wellington Walk Washington NE37 £36,500 7 King Street Middlesbrough TS6 £37,700 8 Harcourt Road Middlesbrough TS6 £38,000 9 Carr Street Hartlepool TS26 £38,300 10 Anthony Street Peterlee SR8 £38,500

Coming in at number one for the second year in a row is Ann Street, TS6, with an average property value of £32,900. In last year’s report the value stood at £26,910. In the 2008 report, Ann Street was ranked at number three and in 2007 it was ranked at number 7. The street is made up of terraced properties.

The second most affordable street in the North East is Edward Street, also in TS6, where the average property value is £34,200 (up from £32,400 last year, when the road was in second place). The road is located within walking distance of Ann Street, and also contains terraced properties.

The third most affordable street, again in TS6, is Scarborough Street. The average property value here is £34,400. Scarborough Street intersects with Harcourt Road, which sits at number eight on the list. Scarborough Street has a park to the west, but is also a short walk from a neglected industrial area. The majority of the streets in this year’s rankings are clustered in one area, with seventy per cent located in TS6. This is up from sixty per cent in last year’s report.

THE NORTH WEST

Rank Street Locality Postcode Average Value £ 1 Oxford Street Brierfield BB9 £32,800 2 Wood Street Burnley BB10 £35,700 3 Elmwood Street Burnley BB11 £35,800 4 Altham Street Burnley BB10 £35,900 5 Spencer Street Burnley BB10 £36,400 6 Craven Street Brierfield BB9 £36,700 7 Hurtley Street Burnley BB10 £37,000 8 Colville Street Burnley BB10 £37,700 9 Violet Street Burnley BB10 £38,000 10 Heap Street Burnley BB10 £38,300

The most affordable street in the North West is Oxford Street, situated in Brierfield, BB9. The average property value here is £32,800. As well as residential property, the road also contains a mosque and is within walking distance of Brierfield railway station. It is also near to the M65. Interestingly, Oxford Street is also the second most affordable street nationally, with a road in Wales taking the top spot.

The second least expensive street is Wood Street in BB10, with an average property value of £35,700. This street has risen in the rankings from last year, when it was in 9th place, with an average value of £33,570. Wood Street is located close to the Leeds and Liverpool Canal, and not far from the M65.

Coming in at number three is Elmwood Street in BB11. The average property value here is £35,800. The road is located south of the M65, with Burnley Barracks, Burnley Barracks railway station and Burnham Trading Park to the north east.

Interestingly, all of the most affordable streets in the North West are located within just 3 postcode districts: BB9, BB10 and BB11. BB10 holds the vast majority, with 70 per cent of the streets. BB9 contains 2 roads, while BB11 has 1.

THE SOUTH EAST

Rank Street Locality Postcode Average Value 1 Nimrod Drive Gosport PO13 £41,500 2 Mantle Close Gosport PO13 £41,900 3 Lands End Grove Tattenhoe MK4 £44,100 4 Plantain Court Walnut Tree MK7 £44,200 5 International Way Southampton SO19 £44,900 6 Mahler Close Browns Wood MK7 £46,800 7 Howitt Drive Bradville MK13 £46,800 8 Grange Road Gosport PO13 £47,200 9 Kelsey Close Tattenhoe MK4 £47,600 10 Samson Close Gosport PO13 £48,200

Mouseprice.com can reveal that the most affordable street in the South East is Nimrod Drive in PO13, with an average property value of £41,500. Nimrod Drive took the third spot last year and was at the top of the list in the 2008 report. PO13 is a coastal district located west of Portsmouth, in Gosport. This street is located between The Solent to the west and Portsmouth Harbor to the east.

A short walk from Nimrod Drive is the second most affordable street in the South East, Mantle Close, also in PO13. The average property value here is £41,900. This street is in the same position as last year, when it was worth an average of £40,300.

Ranked at number three, is Lands End Grove in MK4. MK4 is the largest postcode district in the MK area and is situated in the south west of Milton Keynes. Properties here are worth an average of £44,100. This street also made it into the top ten most affordable streets report last year (at number 4) when its average value was £44,300.

PO13 is the most frequently occurring postcode district, containing 40 per cent of the streets on the list. Half of the streets in the top ten centre around Milton Keynes.

THE SOUTH WEST

Rank Street Locality Postcode Average Value £ 1 Jelbert Way Eastern Green TR18 £64,000 2 Chalvedon Green Swindon SN3 £64,500 3 Halcyon Road Plymouth PL2 £65,700 4 King Street Plymouth PL1 £66,900 5 Cobham Court Cheltenham GL51 £67,100 6 St Eval Place Plymouth PL5 £67,600 7 Merritt Road Paignton TQ3 £67,800 8 Talbot Gardens Plymouth PL5 £67,900 9 Monkscroft Cheltenham GL51 £68,100 10 Grandison Close The Prinnels SN5 £70,600

In the South West region, the most affordable street is Jelbert Way in Cornwall TR18, with an average value of £64,000. The property stock in this street tends to be flats, with some terraced properties. The road is very close to the shoreline, with Penzance to the south west. Jelbert Way did not appear in the rankings last year.

Coming in at number two is Chalvedon Green, located in SN3, with an average property value of £64,500. The road is located in the east of Swindon and contains terraced properties. This is another new entry to the most affordable list.

Halycon Road in PL2 comes in at number 3 this year, with an average value of £65,700. Interestingly, none of the top three streets appeared in last year’s report. However, the postcode area of PL encompasses 40 per cent of the most affordable streets in the South West region. Only four of the ten streets in this year’s list appeared in 2009 ranking. These streets are: Cobham Court (at number 5), Merritt Road (number 7), Talbot Gardens (number 8) and Monkscroft (number 9).

WALES

Rank Street Locality Postcode Average Value £ 1 Fernhill Mountain Ash CF45 £ 28,600 2 Dan Yr Heol Aberdare CF44 £ 36,000 3 Bryntirion Ynysboeth CF45 £ 40,000 4 Brynawelon Nantyglo NP23 £ 40,300 5 Albert Street Blaenllechau CF43 £ 40,500 6 Edward Street Maerdy CF43 £ 40,600 7 Tanybryn Terrace Pontygwaith CF43 £ 42,400 8 Heol Llechau Porth CF39 £ 43,100 9 John Street Abercwmboi CF44 £ 43,900 10 Aberfan Crescent Aberfan CF48 £ 44,400

Research by Mouseprice today reveals the most affordable street in Wales is Fernhill in CF45 with an average value of £28,600. It was also in the top spot last year. Recent low sales have kept Fernhill in the top spot, although the value of the road has increased from last year, when the figure was £24,640. The road also takes the top spot in the national list. Fernhill is located to the north of Cardiff, closer to Merthyr Tydfil than the capital city itself.

Dan Yr Heol in CF44 takes second place this year, with an average property value of £36,000. Dan Yr Heol is located to the north east of Cardiff in the village of Penywaun, near Aberdare. The housing stock on Dan Yr Heol tends to be either terraced or semi-detached properties. To the north of this road is a river, and even further north is Brecon Beacons National Park.

In at number three is Bryntirion, up from number five last year, with an average value of £40,000. Like Fernhill, it is located in CF45. Last year the average value here was £37,530.

Ninety per cent of the streets on this year’s report are located in the postcode area CF. Unlike last year’s report, there is only one street in the NP postcode area, which is Brynawelon in NP23 (in 4th position).

THE WEST MIDLANDS

Rank Street Locality Postcode Average Value £ 1 Binswood Close Coventry CV2 £37,300 2 St Cecilia Close Hoobrook DY10 £43,300 3 Bowness Close Coventry CV6 £46,800 4 Fraser Street Stoke-On-Trent ST6 £47,000 5 Tudor Road Nuneaton CV10 £47,600 6 Crystal Street Stoke-On-Trent ST6 £47,700 7 Trafalgar Court Tividale B69 £47,900 8 Gibson Street Stoke-On-Trent ST6 £48,100 9 St Pauls Street Stoke-On-Trent ST6 £49,000 10 Churchfield Avenue Tipton DY4 £49,200

Mouseprice can today reveal that the most affordable street in the West Midlands is Binswood Close, in CV2. It is the third year in a row in which this road has taken the top spot. The average property value on this street is £37,300, down from £39,400 in last year’s report. The road is located just south of Aldermans Green Industrial Estate, and is also close to the M6, which is to the north.

At number 2 this year for the second year running is St Cecilia Close with an average value of £43,300 (the figure stood at £41,200 in last year’s report). This road was ranked at number 3 in 2008’s report.

In third place, is Bowness Close in Coventry, CV6, which has an average property value of £46,800. This street did not appear in either last year’s report, or in the 2008 rankings.

ST6 is the postcode district which appears most often in the rankings, with 4 entries. All of the other streets are located in different postcode districts around the region.

YORKSHIRE AND THE HUMBER

Rank Street Locality Postcode Average Value £ 1 Thorgam Court Grimsby DN31 £ 36,400 2 Morrison Avenue Maltby S66 £ 37,800 3 West Bank Rise Keighley BD22 £ 39,900 4 Beech Close Hull HU3 £ 40,500 5 Wroxham Avenue Grimsby DN34 £ 41,700 6 Gee Street Hull HU3 £ 41,900 7 Churchill Avenue Maltby S66 £ 42,100 8 Newburn Drive Sheffield S9 £ 42,300 9 White Thorns View Sheffield S8 £ 42,500 10 Airlie Street Hull HU3 £ 42,600

Mouseprice can today reveal the most affordable street in Yorkshire and the Humber as Thorgam Court in Grimsby, DN31. The average price of a property here is £36,400. While this street was not in last year’s top ten list, it was number five in the 2008 report. The road is close to the railway lines, with Grimsby Town railway station nearby.

Down from the top spot in 2009, is Morrison Avenue in Maltby, S66, which is this year’s number 2. Properties in this street are worth an average of £37,800. Average house values in this street are up from £33,120 in last year’s report. Maltby is located east of Rotherham and Sheffield and south of Doncaster.

At number three is West Bank Rise, BD22 with an average value of £39,900. This street is located in the west of Keighley, north west of Bradford.

The postcode district HU3 occurs the most frequently in the rankings, appearing 3 times. However, in last year’s report it featured 5 times.

NOTES TO EDITORS

RANKING METHOD

Details of all property transactions that have been recorded by Land Registry since April 2000 are included within the calculation of the rankings. The Mouseprice Street Rankings 2010 are calculated utilising the latest in automated valuation model (AVM) technology. Each street in England & Wales was given a value representing the arithmetic mean of the current value of properties in each street. The street rankings utilise a data set of approximately 15 million properties. Various data sources are employed; however, price paid data from Land Registry represents the largest single dataset.

The rankings aim to show the average cost of residential property ownership on a given street. As such, streets which predominantly consist of detached properties will tend to rank more highly than streets which predominantly consist of flats. The rankings are designed to convey a measure of affordability, and as such, are not based on a £ per square foot calculation.

Streets may be excluded from the rankings if firstly, they contain too few transactions, secondly, they have not had sufficient recent property transactions and thirdly, they do not possess consistent house prices.

ABOUT MOUSEPRICE.COM

Mouseprice.com is a property portal that also provides free home valuations on every property in the country.

Please attribute research to Mouseprice.com and include a link to http://www.mouseprice.com where appropriate. Text within this document can be used as a quotation attributed to Zipporah Morrison Baker, spokesperson for Mouseprice.com

Mouseprice.com could be described in the following ways:

"Analysis conducted by mouseprice.com, provider of free instant online valuation estimates for all residential properties in England and Wales"

"Mouseprice.com is a source of property market information for home movers and nosey neighbours alike. The website enables you to find out for free what properties in your area have sold for, an estimate of what they are worth and contains statistics on how property prices have changed."

PRESS ENQUIRIES

Mouseprice has a wealth of data and technical expertise enabling us to track various property market trends. If you require any property related information or comment, please feel free to contact us using the following details:

Zipporah Morrison Baker Communications Manager Mouseprice.com 156, Milligan Street London E14 8AS

Tel: 0207 538 8888 Email: [email protected]