Contrary to popular belief, living close to ghouls and ghosts might increase the value of your home. How do home values in the UK change if you live close to a supposedly haunted location? Well, perhaps surprisingly, it provides a considerable boost.
Living next to a haunted location might increase a house seller’s asking price by up to £57,432, according to a recent study from Hammonds Furniture. This premium is not to be overlooked in a market that is beginning to show indications of slowing down.
The study examined the average home prices in postcodes close to spooky places including haunted castles, ghost trails, and spots where paranormal activity has been observed across the UK. It then determined whether being near a haunted site may potentially increase a property’s worth by comparing these results with local and national prices.
And guess what? Having a postcode associated with the supernatural doesn’t stop sales; in fact, research shows that it tends to increase the asking price by (on average) 12% in comparison to the average home in the neighborhood.
The investigation also discovered that a home near spooky activities is currently valued at slightly over £405,000 on average. This is almost £120,000 above the average in the UK.
Discover a higher premium
The study also discovered that some haunted locales had a more positive impact on home value than others.
House values in Epping Forest, Essex, close to the enigmatic Hangman’s Hill are more than £200,000 greater than those of typical Essex properties. Legend has it that visitors to Hangman’s Hill can put their automobile in neutral and, as it begins to roll uphill, “experience an anti-gravity phenomenon.”
Another location where housing costs comfortably exceed the local norm is Farleigh Hungerford Castle in Somerset. For the privilege of living close to the allegedly haunted castle, buyers will have to fork over more than £511,000, which is more than £166,000 (48%) than the typical Somerset home.
The ghost of ‘the bloodthirsty’ Lady Agnes Hungerford is rumored to haunt the castle and is supposed to frequently manifest close to the chapel. It’s not surprising that the castle is said to be haunted considering its complicated history of murder, conflict, and intrigue.
Homes near Ham House, the Theatre Royal, and Berry Pomeroy Castle in Devon all have reported sightings of ghosts.
According to Hammond’s research, there are some places where it is less expensive to reside close to a haunted location than the average house price in the area, which is good news for keen ghost seekers.
According to the survey, homes near Aston Hall in Birmingham, which is said to have ghost legends that date back to the 17th century and Sir Thomas Holte, its first tenant, are currently priced £93,720 (39%) below the West Midlands average.
In truth, accounts of grisly murders, enigmatic women, and terrible incidents have all contributed to Aston Hall’s reputation as one of the UK’s most haunted places. However, it appears that unlike the Ghostbusters, local residents and shoppers are not terrified of ghosts.
In the same postcode as Conisbrough Castle in Doncaster, which is reputed to have “intense ghostly activity,” there are also a tonne of affordable properties to be found. Properties here currently cost £57,498 (30%) less than the South Yorkshire average. A ghostly monk and a White Lady are said to have been spotted in the keep of the castle, which was erected by Hamelin Plantagenet around 1180 and served as the model for Sir Walter Scott’s Ivanhoe.
Similar to how homes near haunted locations don’t suffer negatively from this connotation, we looked at how eerie street names, like Ghost Lane and actual Elm Streets, don’t deter home purchasers as much as you might assume. There are several haunted and paranormal locations in Britain where people still reside. Accordingly, it seems that nowadays, rather than the creepiness and unsettling vibe of The Others or the characters of a Henry James novel, people view haunted locations as being more intriguing and fun, like in the BBC’s popular sitcom Ghosts, which helps to explain why such a spooktacular premium exists for many of them.