Owning a house on Elm Street isn’t a total nightmare, say some local residents.
But those who live on Elm Street have reportedly sold their homes for significantly less – all thanks to Freddy Krueger and the 1984 classic A Nightmare on Elm Street.
Experts say property prices could be “influenced by a superstitious market”.
Properties on Elm Streets in Bury, Tyldesley and Eccles are selling 61 percent below the local average, according to a new study. Report from the Manchester Evening News.
The data, conducted by the Yorkshire Building Society, analyzed residential property sales over the past decade.
But the street dwellers say they don’t mind superstition – they even make fun of the street name.
Grandmother of two Donna Hardman bought a house on Elm Street in Bury 35 years ago.
The 58-year-old said: “The name didn’t put me off – it’s just a tree!
“If anything, we’re kidding about it.
“When we get in a cab we say ‘Elm Street – Nightmare of’.
“I’ve never heard of people who have superstitions.
“Most of them are rented – that’s the nightmare.”
Emily Scott, 28, who is also out and about in Bury, added, “To be honest, none of my friends have heard of the movie.
“I always say, ‘Yeah, it’s a nightmare to find this …’ and they don’t get it.”
Jill Rosser moved to the area 26 years ago.
She bought her home at a young age in search of the cheapest property she could find.
The 50-year-old said, “Every time we tell someone where we live, they say ‘Ooh, nightmare'”.
Beata Franczyk, 32, who lives on Elm Street in Eccles, says she is asked for the name of the street in the taxi too.
She said, “We didn’t really think about the name of the street.
“In taxis, they ask us if it’s really a nightmare.
“But it’s not, it’s a really nice place and our neighbors are really nice.
“I think it’s ridiculous. It’s just a name. “
Ben Merritt, Senior Mortgage Manager at Yorkshire Building Society added, “It appears that some house prices are influenced by a superstitious market.
“We know 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 study shows that seven out of ten adults in the UK would not be prevented from living on Elm Street.
“However, if you picked up a home for significantly less than the area average because of a creepy name, then don’t be appalled when it comes to the sale if it continues to affect the price of the property.”
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