Homes which come with a posh-sounding address could cost around £50,000 more than those in less exclusive areas, a new study claims.

Those who live in quintessential English 'Lanes' pay an average of £215,262 for a three bedroom semi-detached house whilst the same property on a 'Drive' costs £166,683, according to research from Woolwich building society.

With the average price for a three bedroom semi working out as £184,000 then those living on a Lane pay 17 per cent for the privilege of their address.

Addresses ending in 'Gardens' also hike up the price of the house to £211,000, but those residing on a 'Road' will fork out £196,000.

At the bottom end of the scale, properties with addresses ending in 'Street' go for an average of £170,394 whilst those located in a 'Grove' pull in slightly less at £169,549.

Andy Gray, head of mortgages at Woolwich, said he found it difficult to believe that property prices can be affected so much by the first line of an address.

"Perhaps differences are down to the fact that houses on 'Lanes' and 'Gardens' are often in more desirable, semi-rural locations, where as 'Roads' and 'Avenues' are much more likely to be in more suburban or built up areas," Mr Gray said.

"However British homeowners have a history of re-naming their homes to make them sound more appealing, 'Rose Cottage', 'Orchard House' and 'The Laurels' are common examples.

"Perhaps we will see neighbourhoods campaigning to have their 'Drives' renamed as 'Lanes' in an effort to increase the exclusivity of their properties."