Is it a nightmare on elm street? not if you're after a property bargain this Halloween
Homes on Elm Street in the UK sell for an average of £74,608 less than nearby properties according to new analysis by Yorkshire Building Society of all residential property sales over the last decade since the 31st October of 2011
Sellers on Elm Street, Stanley in County Durham, have endured the biggest nightmare, receiving 70% less (£74,204) compared to properties sold in the local area
New research by Yorkshire Building Society also shows 70% of UK adults would not be put off buying a property on Elm Street - meaning they could get a dream property at great value
And nearly six in ten (59%) of UK adults said they would be willing to purchase a house they were told was haunted if it meant it was cheaper to buy.
It seems selling a house on Elm Street, may be having a very real nightmare effect on house prices – but could present a dream of an opportunity for those looking to bag a bargain.
As Halloween approaches, new analysis by Yorkshire Building Society of residential property sales from the last decade, shows that property sale prices on Elm Street can be up to 70% lower than the local average with Stanley, in County Durham, England, showing the biggest proportional difference in the UK.
New research by the Society[i] also shows 70% of UK adults would not be put off buying a property on Elm Street, which was made famous through the ‘A Nightmare on Elm Street’ horror franchise featuring the ultimate neighbour from hell in Freddy Krueger.
On average homes across the UK on Elm Streets fetch 42% lower than the average for their postcode area. The homes on Elm Street in Cheltenham, Gloucestershire, saw the biggest actual price difference, selling for £158,372 less.
The new research also showed that the majority of Britons would be willing to snap up a bargain even if a house was said to be haunted. Nearly six in ten (59%) of UK adults said they would be willing to purchase a house they were told was haunted if it meant it was cheaper to buy.
Ben Merritt, senior mortgage manager at Yorkshire Building Society, said:
It seems that some house prices maybe being affected by a superstitious market. We know that all kinds of reasons can affect prices and it seems that Freddy Krueger’s film franchise can now be added to that list. Conversely our new research shows that seven out of ten adults in the UK wouldn’t be put off living on Elm Street so for those in the market, their dream home could be just up this street.”
It is worth bearing in mind though that if you have picked up a home for significantly less than the area’s average due to a spooky name, not to be horrified when it comes to selling if this continues to influence the property’s price.
There was just one Elm Street in the UK that saw homes sell for an average price which was higher than typical for the area, and that was Elm Street in Ferndale, South Wales.
Top ten UK Elm Streets with biggest price difference (by percentage)
Postal district and town
Average Elm Street sale price, 2011-21
Average sale price in postal district, 2011-21
DH9, Stanley, County Durham
BB1, Blackburn, Lancashire
WF1, Wakefield, West Yorkshire
BB10, Burnley, Lancashire
BL9, Bury, Greater Manchester
M29, Tyldesley, Wigan
M30, Eccles, Greater Manchester
CF48, Troedyrhiw, Merthyr Tydfil
DH7, Langley Park, County Durham
GL51, Cheltenham, Gloucestershire
Source: Land Registry database
All information correct at time of publication.
The analysis included all 46 Elm Streets in the UK where there had been a minimum of four residential property sales between October 31, 2011, and October 21, 2021, and compared them with all other residential sale prices in the same postal district over the same time period. All data is taken from the Land Registry Paid Prices database.
 Yorkshire Building Society Real Life Moments survey: The research was carried out online by Opinium. All surveys were conducted between 28 September 2021 and 1st October 2021 and the sample comprised 2,000 UK adults.