Festive street names could send property values soaring
It's a surprising fact that a Christmassy street name could boost the price of your property, by quite a bit.
If you live on a street with Toy or Tinsel in its name, then your home could be worth a good bit more as a result.
Recent research has revealed that if you live on a street with the name ‘Toy’ included, the average house price on these streets is valued at £660,798.
This could add £272,249 to the price tag when compared to the UK average.
‘Tinsel’ related street names rank second. Houses on streets with this particular festive name were valued on average at £283,458.
So you could see an increase of a staggering £90,645 compared to the average.
‘Frosty’ places third, with properties on average in the UK valued at £356,696 on streets containing this word, which sees their worth increase by £70,479.
Gingerbread sees a price increase of £65,224, and with Christmas itself in a road name, your property gain could be to the tune of £41,074. Stocking could shoot the value up by £36,867.
But there could be a downside to this phenomenon too....
Homes located on a street with ‘Elf’ as part of the street name are valued at £240,152 less than the average UK property price (£530,940).
And homeowners living on a ‘Cider’ related street name will see the second lowest value depreciation of £146,029 compared to the average property price of £302,846.
Who would have thought ‘Presents’ would be a name to pull down prices? But research showed that homes on streets with this in their name will be valued £145,406 less than the average property price in the UK, which is £173,303.
There are more than 170 Christmas-related street names in the UK. Experts at https://heatingforce.co.uk/ utilised Zoopla to find out which festive street names could most influence a property’s value.
Average house price values at town, county and region levels were compared, to discover whether festive streets were valued higher or lower than the average.https://heatingforce.co.uk/