Steep prices

The people of Wales hold some of the more interesting world records, including having hosted the largest three-legged race, created the world’s longest scarf, and travelled the furthest distance on a unicycle. This week they added to these accolades the award of the world’s steepest road. At 37.5% gradient, Ffordd Pen Llech in the Welsh town of Harlech pipped the prize from previous record holder, Baldwin Street in Dunedin, New Zealand. What is not clear is whether Ffordd Pen Llech became steeper, Baldwin Street flattened off, or if there are several other streets queuing up to be measured that might have a better claim. Studies have shown that properties in hilly locations command price premia. They have better views, plots for development tend to be more restricted and hence they have better privacy, public transport is more limited and therefore requires more wealthy car owners, and the abnormal costs of development create higher value hurdles. Despite this, you can pick up a steal of ‘a charming two bed cottage’ on the world’s steepest street for just £125,000. Just make sure that your handbrake has been tested recently.