House hunters could save cash by buying on a street which shares its name with a classic horror film.

As a Halloween treat, property website homes.co.nz set out to see whether the 1984 film A Nightmare On Elm Street had any impact on house prices.

Spokesman Jeremy O'Hanlon said the average cost of an Elm Street home in Whanganui was $104,000, 35 per cent less than its suburb average of $163,000.

He said the average cost of a Elm St home in Auckland's western suburb of Avondale was a bargain at $675,000 - $200,000 cheaper than its suburb average.

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In Gisborne, the average cost of a home in Elm Street was $224,000, spookily 6.66 per cent less than its suburb average of $240,000.

"This analysis is about as lightweight as you could get, but made us laugh so thought it worth sharing around," said Mr O'Hanlon.

"You just never know what will get you a bargain in this housing market. It makes you wonder if the name Coronation Street would command a premium."