The good old ‘Board Game’ seems a thing of the past for youngsters nowadays with their consoles and mobile phones, however, a family favourite in our household that will bring young and old together is Monopoly.
A couple of weeks ago we had a typical English summer storm so we decided to get the board out and have a game… after we spent 10 minutes arguing who was going to be which piece… typical!
Mayfair is traditionally the property that everyone wants to buy and whilst it is the most expensive to buy – it offers the greatest returns.
Mayfair was the must have London address when the Monopoly board game was made back in 1935. At the time, it was the most expensive street to buy houses at £400 each. As we played I was asked what a property today would be worth in Mayfair and how much it would cost to buy them all. Readers will know I like a challenge so, after losing badly to my daughter, I delved into the figures…
My research using Land Registry and various property websites shows that a typical house in Mayfair today costs on average £2.8m – whilst the total value of all the property in the Mayfair area currently stands at £11.8bn!
Do you live in DE1?
The fun part of Monopoly was to build more houses and ultimately a hotel to extract the maximum rent from the other players who landed on a particular property. That made me think, instead of looking at the average value of a property on the street, what if we looked at the total value of property on the whole street. So, I carried out some research on all the 235 streets in DE1 and calculated the top 20 streets in terms of their total value of all properties on the street.. and just for fun, colour coded them as if they were on a Monopoly board…
Mayfair and Park Lane are represented by Brook Street and Belper Road… not really a surprise there!
Yet there are some surprises in the mix including Cathedral Road and Friary Street. They are rightly in the list because of the sheer size of those streets; because whilst the value of those homes are much lower than the ‘posher streets’, the total value of the whole street means they make the top 20 list.
Now of course, whilst drawing a comparison between a 1935 board game and the actual total house values on those Derby streets and roads provides a light hearted point of view of the Derby property market, it does present a credible picture of Derby’s most popular streets.
Next time I will get back to writing an article with a little more seriousness and deeper issues on the Derby housing market… but this week, I hope you enjoyed my little bit of fun!