To celebrate Halloween, online estate agent eMoov.co.uk has hunted down England’s most haunted areas, finding out whether paranormal activity affects house prices.
The study found that the average house price in these locations is higher than in the country as a whole – apparently ghosts and goblins do play a role in property!
The data, compiled by Zoopla, compared the average house price in the ten most haunted locations in England and the growth experienced over the past decade with the typical value in the whole of the country.
Despite the tales of terror associated with these regions, the majority boast a higher average house price than England as a whole. However, price growth in these areas has dragged behind the rest of the country, suggesting that paranormal activity has a negative affect on property values.
Essex’s haunted rectory in Borley may be plagued with ghosts of headless horsemen and the unexplained ringing of servants’ bells, but it is yet to spook away property buyers. House prices in the area have risen by 21% (£97,842) over the last ten years – 4% less than the average across England – to stand at £424,571.
Child sacrifices, suicide and black magic are just some of the ghoulish undertakings that haunt Wotton-Under-Edge in Gloucestershire, home of the Ancient Ram Inn. The area has experienced an average rise in prices of just 10% (£31,345) over the last decade, although it does boast higher house prices than England as a whole.
Pluckley Village also has a higher average house price when compared to the rest of the nation (£404,133), but prices have increased by a measly 5% over the past ten years, possibly due to the haunted histories lurking in its depths.
Although property values in the above haunts stand higher than the average across England as a whole, it appears that ghostly goings-on have slowed price growth, with each location recording a lower rate of increase over the last decade.
House prices in Tower Hamlets have jumped by just 5% over the past ten years, for example. The borough boasts the Tower of London, which is believed to be the home of Henry VI’s ghost. Although the average property price in Tower Hamlets (£377,240) exceeds that of England as a whole (£241,177), it still trails behind the capital by around £75,000. Prices have also grown at a much slower rate than London, which recorded a staggering 51% increase over the last decade.
Perhaps the most frightful location of the lot of Chillingham in Northumberland, where property owners suffered a 1% drop in house prices over the past ten years – the only area to experience paranormal activity to undergo a negative shift. Chillingham Castle, which dates back to the 12th century, is known for its chilling royal procession of ghosts floating through the halls.
Russell Quirk, the Founder and CEO of eMoov, looks at whether paranormal activity really does affect house prices: “It seems stories of ghosts, witches and superstition have a mixed impact on the property market in England, with the areas that are most haunted home to a higher average house price, but seeing a slower rate of growth than England as a whole.
“It wouldn’t be the first time imaginary monsters have impacted house prices, with recent tales of a Brexit monster terrifying homeowners across the nation.”
Landlords, has having a scary property ever affected how much rent you can charge?
Keep up with the latest spooky property news at LandlordNews.co.uk!