THERE are lots of things to consider when choosing a house to buy, like transport links, schools and career opportunities.
For many buyers, how much potential a property has is important, as buying a property that will increase in value or that you can add value to can be a very savvy move.
If you’re looking for an investment, it’s all about picking a location with a lot of potential.
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Online estate agent Strike analysed HM Land Registry data to reveal the North-East street where property prices vary a lot, which may mean there are investments opportunities.
Streets large price differences between their most and least expensive house offer opportunities for people looking for a fixer-upper to add value onto the property.
The largest variation found near Newcastle was on Darras Road, a long street heading towards the town of Ponteland.
The detached property at number 33 sold for £1.65m, with the buyer getting five bedrooms, three bathrooms and a large garden for their money.
But walk two minutes down the road and you’ll find number 7, a detached house which went for £535,000 in April. That’s over a million-pound difference, just a stone’s throw away.
Some 252 UK streets have more than £1 million between their most and least expensive homes, with house prices on Brompton Square in Kensington, London, varying by over £11 million.
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Outside of London, the best opportunity from this list is in York, where one street sold homes with a price difference of £2.65m. Number 14 on Marygate Lane, a central road near the city’s historic museum gardens, sold for just £100,000 in August, while nearby Almery Garth was bought for £2.75m.
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 £1m — 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."
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