Having a graveyard next door could be a lifesaver for buyers on a budget. New research shows you could save 23% just by buying a house on the street next to a graveyard.
We wanted to find out whether living on the closest residential street to each of the UK’s 12 most famous graveyards was more or less expensive than living in the general area surrounding the graveyards.
It showed that properties next to a graveyard were 23% cheaper than the area average.
Which cemetery has the biggest effect on property prices?
Living next to St Mary Magdalene’s Churchyard has the biggest overall impact on property prices. While the average property price for East Ham in Newham is £359,627, the average price for properties on Norman Road, only 335 ft away from the cemetery, is £213,500, a 68.44% decrease in price.
Properties next to Abney Park Cemetery have the biggest average percentage increase in sold prices compared to properties in the area. The average sold price for properties on Bouverie Road is £1,060,375, whereas, for Stoke Newington, it’s £866,318.50, an increase of 18.3%.
Which cemetery has the least effect on property prices?
Living next to Undercliffe Cemetery in Bradford has the smallest overall impact, with a 0.57% increase between the sold prices on Undercliffe Lane and in the general area. The average sold price for properties on Undercliffe Lane is £120,000, while the average sold price for properties in Bradford is £119,315.
Meanwhile, properties next to Brookwood Cemetery have the smallest sale price decrease. The general area of Woking has an average sold price of £500,471.50, while Connaught Road has an average sold price of £486,312.50, a decrease of 2.91%.
Do ghost sightings have an impact on property prices?
Highgate, Camden, has the most ghost sightings, with a spooktacular record of 16 sightings. However, property prices on Hillway, next to Highgate Cemetery, are 4.29% more expensive than the average for those in the area.
Joint second are Hitchin and Whitby, both with 13 ghost sightings. Properties on Standhill Close, next to Hitchin Cemetery, are 7.27% less expensive on average than the general area. In comparison, properties on Church Lane in Whitby are 13.42% more expensive on average than those in the general area of Whitby.
Are properties next to a graveyard more or less expensive on average?
Out of the 12 most famous cemeteries in the UK, eight of the areas have a lower average sold price for properties situated next to a graveyard. Of these eight areas, the properties next to a graveyard were sold for 29.57% less than properties in the general area.
In the remaining four areas where average sold prices for properties in the general area are cheaper, the data shows that properties next to a graveyard were sold for 9.86% more on average.
Overall, this data shows that the resale value of a property located next to a cemetery is likely less than elsewhere.
Would you live next to a cemetery?
We asked a popular UK subreddit if they would live next to a cemetery, and 74.7% of 1,231 respondents said yes.
The benefits.
It is important to note that everyone has their own preferences towards a property. Some may be drawn to the historical significance of a property located next to a graveyard, while others may be apprehensive out of fear of a lack of privacy, noise concerns, or superstitious or religious beliefs.
However, living next to a cemetery isn’t all doom and gloom; there are many benefits to buying a property next to a graveyard. For example, data shows that properties next to a cemetery are cheaper on average, meaning they are a perfect option for buyers on a budget. It also means you could get more for your money.
Buying a property next to a graveyard could be the perfect option for those who enjoy living in a peaceful, quiet area. Cemeteries can be tranquil and calm environments, often with restricted access, limiting footfall and adding a degree of privacy to the property.
Plus, graveyards are usually protected by zoning laws and regulations, meaning there is a low chance of future development. Buying a property next to a cemetery makes it very unlikely that you’ll have to worry about a new building going up next door, potentially blocking your view or increasing noise levels.
Finally, if you need any more of an excuse to buy a property next to a graveyard, it’s the perfect location for a Halloween party! It has everything you need to create a spooky aesthetic, with a graveyard providing a natural eerie backdrop; it’s easier to create a haunted look when starting with a location that already has some of those elements.
David Jabbari, CEO at Muve, said: “I think there’s a common misconception surrounding houses next to cemeteries whereby many people see them as eerie and disturbing. However, they can also be calm environments full of beautiful wildlife and nature. Our data shows that estate agents need not worry about selling a house next to a graveyard, as most people are happy to live next to a cemetery. They can be advertised as a cheaper option for buyers on a budget or first-time buyers, perhaps.”
Methodology
First, we found the twelve most famous graveyards across the UK. Using property data from Rightmove and Zoopla, we were able to compare prices of detached, semi-detached and terraced properties and flats sold within the last five years on the streets next to the UK’s 12 most famous cemeteries and in the general areas in which the cemeteries are located.
We then calculated the average property sold prices for the individual streets and general areas to find the percentage difference in average sold prices.
Paullee’s website was used to scrape ghost-sighting data for each area in the UK.
