Nightmare of selling a house on the street under the curse of Freddy Krueger

You might think property prices might be higher in a street with a famous name – but if the name comes from an all-time horror classic, trying to get the asking price can be a nightmare.

Take Elm Street in Bury, Greater Manchester.

According to a new study, properties on Elm Street in Bury, as well as those on similarly-named streets in Tyldesley and Eccles sell for 61% less than the local average.

It’s down to what experts call a "superstitious market".

The data, conducted by the Yorkshire Building Society, analysed residential property sales over the last decade.

But those living on the streets say the superstition doesn’t bother them – even poking fun at the road name.

Gran-of-two Donna Hardman purchased a home on Elm Street in Bury 35 years ago.

The 58-year-old told the Manchester Evening News: "The name didn’t put me off – it's just a tree!

"If anything, we make jokes about it.

"When we get in a taxi, we say 'Elm Street – nightmare of'.

"I’ve not heard of people having superstition.

"Most of them are rented – that's the nightmare."

  • Inside 'UK's thinnest house' less than two metres wide on market for £950,000

Emily Scott, 28, who also lives on the road in Bury, added: "Honestly, none of my friends have heard of the film.

"I always say, 'Yeah, it’s a nightmare to find…' and they don’t get it."

Jill Rosser moved to the area 26 years ago.

She purchased her home at a young age, looking for the cheapest property she could find.

  • Government urged to scrap 'unfair' council tax and stamp duty as 100,000 sign petition

Stay in the loop with all the latest Daily Star news by signing up to one of our free newsletters here.

The 50-year-old said: "Every time we tell anyone where we live, they say, 'Ooh, nightmare'."

Ben Merritt, senior mortgage manager at Yorkshire Building Society, added: "It seems that some house prices may be 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."

Source: Read Full Article