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Haunted house: ghostly homes are property bargains

Yahoo! Finance UK logo Yahoo! Finance UK 31/10/2019 Abigail Fenton
a castle with a clock tower in front of a house: Woodchester Mansion is 'the most haunted mansion in the UK'. Photo: Barry Batchelor/PA Archive/PA Images © Provided by Oath Inc. Woodchester Mansion is 'the most haunted mansion in the UK'. Photo: Barry Batchelor/PA Archive/PA Images

Brits might be getting ready to visit haunted house attractions this Halloween, but a real haunted home is a property turn-off for a third of people – and a bargain for those willing to buy a home with a ghostly reputation.

In a survey of over 2,000 Brits by online mortgage broker Mojo Mortgages, 34% of people said they would be deterred from purchasing a property if it was potentially “haunted”.

Almost as many – 32% – said they wouldn’t go through with a sale if they knew a crime had happened there. One in five people stated that if someone had died in the property, they wouldn’t buy it, and just over one in 10 would be put off if it was near a cemetery.

a large brick building with a clock on the side of a road: Two-bed flat in Stroud. Photo: Zoopla Two-bed flat in Stroud. Photo: Zoopla

The research also delved into average house price values in well-known haunted areas in the UK and found that living near a spooky location can actually decrease the value of a property by an average of 5%.

Looking at the nine most haunted places in the UK, the study compared the average house price in the direct area using HM Land Registry sold prices since 2000, with the current average house price of the nearest town.

a small clock tower in front of a brick building with Athelhampton in the background: Athelhampton House, Early Tudor Medieval Manor, Dorset, 20th century. Grade I listed, 15th century Country Manor House and Gardens in Dorchester, Dorset. (Photo by CM Dixon/Heritage Images/Getty Images) © Provided by Oath Inc. Athelhampton House, Early Tudor Medieval Manor, Dorset, 20th century. Grade I listed, 15th century Country Manor House and Gardens in Dorchester, Dorset. (Photo by CM Dixon/Heritage Images/Getty Images)

Properties within the area surrounding the most haunted mansion in the UK, Woodchester Mansion in Gloucestershire, had a decrease of 39%, in comparison with the average of the area.

Living in the surrounding town to the Ancient Ram Inn, located in Stroud, which is said to have been the location of many sinister happenings, including black magic rituals, property prices had a decrease of 33% compared with the average for the area.

a small house on a dirt road: Home Farm, Puddletown. Photo: Zoopla © Provided by Oath Inc. Home Farm, Puddletown. Photo: Zoopla

If you’re looking for a bargain property, Zoopla lists this two-bedroom flat at a mere £115,000.

However, despite some of these value decreases, it’s not all doom and gloom for all these haunted areas. In the surrounding areas of Borley Rectory in Braintree, which is thought to be the most haunted place in the UK following reports of extensive paranormal activity, house prices are actually more than the local average, increasing by 31%.

an old brick house with trees in the background: Two-bed detached house in. Photo: Zoopla © Provided by Oath Inc. Two-bed detached house in. Photo: Zoopla

The most expensive property currently on the market in Stroud – a four-bed detached house – is on sale for £625,000.

Athelhampton House in Dorset, along with the village of Pluckley in Kent, also saw property values increase in the areas by 19%, and 6%, respectively on average prices.

Home Farm in Puddletown is currently the cheapest available Dorset property. This two-bed end-terrace house is on the market for £280,000.

a screenshot of a video game: Source: Mojo Mortgages © Provided by Oath Inc. Source: Mojo Mortgages

Meanwhile, this two-bed detached house is the cheapest home currently up for sale in Pluckly, at £250,000.

Amy Lawson, CMO at Mojo Mortgages, said: “It seems stories of ghosts, witches and superstition have a mixed impact on the property market in England when it comes to average house prices in these particular areas. However, there’s a small number of people that would like to buy a haunted house and I think this is why we are seeing this variation.

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“For the majority though, and as shown by our poll, this would put people off when it comes to selling your home. For those who do like spooky homes, and I suppose, home with a bit of character, in some areas, you can snap up a bargain, but be warned, when it comes to moving out of that place, not everyone will feel the same way!”

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