Royal property: the cost of living on 'Prince George' street
And what effect has the Duchess of Cambridge's kitchen had?
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Thursday 10 July 2014
Properties on street called 'Prince George' are 16 per cent more expensive than the local average, according to a new report
The figures from Placebuzz.com come just before Prince George's first birthday on 22 July and suggest that buyers pay a £11,000 premium for a 'Prince George' road, with properties in London a third more expensive than average.
For example houses on Prince George Street in Portsmouth are on average £223,920, compared to the average cost of a home with a P01 postcode of £177,860.
In London, buyers on Prince George Road in Stoke Newington would pay £599,464, almost 50 per cent more than the average house price in the N16 postcode, while a property on Prince George’s Road in Wimbledon costs £725,491, 28% more than the average SW19 home.
Meanwhile, peer-to-peer lending service Zopa has suggested that the 128 per cent rise in demand for home improvement loans it has experienced in the last year could partially be the result of the Duke and Duchess of Cambridge's recent spending spree on the refurbishment of their homes, especially their additional kitchens.
"The Royal influence on spending habits is well-documented," said Giles Andrews, CEO and co-founder of Zopa, "and with home improvements in the news after the royal spending spree we could see greater demand for home refurbishments amongst UK consumers."
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