Have you ever wondered if your street’s name could impact your home’s value? A study by Stokemont explored how festive street names in England and Wales influence property prices – and the results are surprising!
Festive names that add value
Snowball – homes on streets with “Snowball” in the name see the biggest price jump –11.45% on average, or £17,644 more than similar properties.
Reindeer – streets named after “Reindeer” also boost property values, adding 9.80% to the price.
Stocking – properties on “Stocking” streets increase by 9.25%, or £28,565.
Festive names that decrease property value
Rudolph – unfortunately, streets with “Rudolph” in the name experience the largest price drop – 23.02%, or a loss of £130,337.
Turkey – properties on streets named “Turkey” see a 9.96% decrease, or £35,539 less.
Nicholas – streets with “Nicholas” result in a smaller but still notable 5.73% drop in value.
Best cities for festive streets
If you’re lucky enough to live on a festive street in Newcastle upon Tyne, you’ll see your property value more than double, with a 102.22% increase (an average of £206,815). Southampton also sees impressive gains, with an average 62.88% increase, or £241,277 more.
While festive street names like “Snowball” and “Reindeer” can increase property values, names like “Rudolph” and “Turkey” could cost you.
If you’re considering a move, it’s worth thinking about how your street name could impact your home’s value – get in touch with our team for expert advice!