Elm Street property sellers experience recurring nightmare

House sellers in Elm Street, Buckingham, have endured the real life nightmare of receiving 32% less on average compared to nearby properties.

Monday, 29th October 2018, 4:52 pm
Updated Tuesday, 30th October 2018, 4:16 am
A Nightmare On Elm Street film poster

They're not alone either. Yorkshire Building Society's analysis has shown that since 2013 the 33 Elm Streets across the country have received on average 35% less than surrounding homes.

So it appears that while Freddy Krueger is a fictional character, he is having a very real effect on house prices.

Chris Irwin, Yorkshire Building Society Mortgage Manager, said:

“House prices can be affected by all sorts of factors – and popular culture will play into this. Sometimes people are influenced by a street name associated with a creepy film or a house number which is perceived as ‘unlucky’. The research on Elm Street certainly supports this view. Whilst this can be frustrating for sellers, for those who aren’t as concerned about the road name or street number, it could be an opportunity to buy a property in an area which they may otherwise have not been able to afford.”

In 1984, Wes Craven wrote and directed a film called 'A Nightmare on Elm Street'. The film revolves around a fictional character, Freddy Krueger, a former child killer who after being burned alive by the vengeful parents of his victims, returns from the grave to terrorise and kill the teenage residents of Springwood, Ohio in their dreams.

Just two Elm Streets in the UK saw homes sell for an average price which was higher than typical for the area – Elm Street in Pontypridd, and Elm Street in Ferndale, which are both in South Wales.