House prices: Homes on Elm Street can be worth up to 57% less than average

Data has revealed just how much of a nightmare living on Elm Street can be, especially for home owners.

Sharing an address with the title of the 1984 horror film can knock up to 57% off the value of your home, according to data compiled by online estate agency HouseSimple.com.

On average, Elm Street homes are 39% cheaper than equivalent houses in the local area.

HouseSimple.com looked at 20 different Elm Streets across Britain and found that the residents in Stockport were the least spooked by the infamous street name.

There a house on Elm Street would be £37,410 under the average for the area.

Buyers in Seaton Burn, a village near Newcastle, were the most likely to take fright, the data showed.

The differential between Seaton Burn’s Elm Street houses and those elsewhere stands at 56.9%, which homes sold for up to £120,000 less than the average in the neighbourhood.

Alex Gosling, chief executive of HouseSimple.com said: “We are a superstitious nation, so perhaps lower house prices are the only way to tempt people into braving the supernatural and buying here!”