A Romantic Street Name Can Increase Property Value By £1,172,000
• Streets with the word ‘sweet’ in their name can increase your property by up to£1,172,736!
• The most popular romantic term that adds value to your property is ‘love’ with 140 streets in the UK sharing this name INCREASINGthe value of your property by £79,689!
• The most common romantic street name that devalues your property is ‘rose’ with 222 streets in the UK being named after the popular flower.
• The term that can devalue your property the most is ‘partnership’. Streets with this term in their names are worth £143,868 LESS than the UK average!
It’s February and love is in the air! Whilst some like to get a taste of it from going on dates, others take it a step further and purchase properties on streets which names allude to romance. But whilst it’s nice to live on a street with a romantic name, does that have any influence on your property value?
The experts at OnlineMortgageAdvisor.co.uk sought to find that out. To do so, they lookedat all streets in the UK containing the following romantic terms: bride, chivalry, cupid, date, diamond, dove, groom, heart, honey, kissing, love, lovers, marriage, partnership, ring, rose, sweet and valentine.
OnlineMortgageAdvisor.co.uk then found the average house price of each of these streets and compared them to the average house prices in the UK to see if romantic-related streets are valued higher or lower than the average.
What are the Romantic Street Names that can Add the Most to your Property Value?
The romantic term that can add the most value to your property is ‘sweet’. In fact, streets with the word ‘sweet’ in their name can make your property worth £1,172,736 MORE!
Whilst some say chivalry is dead, the word lives on via streets which share its name, and those who live there see their property worth £391,089more than the UK average!
The most popular romantic term that adds value to your property is ‘love’ with 140 streets in the UK, and interestingly, this term can INCREASE the value of your property by £79,689!
What are the Romantic Street Names that Decrease your Property Value?
The most common romantic street name term is ‘rose’ with 222 streets in the UK being named after the popular flower. However, streets with ‘rose’ in their name can DEVALUE your property by £49,003!
Whilst ‘diamonds’ are expensive precious stones; this can’t be said about the homes found on the streets with the same name. In fact, the value of those properties is £83,572 less than the UK average!
The term that can devalue your property the most is ‘partnership’. Streets with this term in their names are worth a whopping £143,868 LESS than the UK average!
Methodology:
1. OnlineMortgageAdvisor found all romantic-related street names in the UK using https://www.streetlist.co.uk/ andhttps://www.zoopla.co.uk/
2. Then they used Zoopla to find the average house prices of each of these streets (average of all houses on the street). This figure represents an estimate by Zoopla of the average value of a house on a given street.
3. Subsequently, they compared these values to the average house prices at UK level to see if romantic-related streets are valued higher or lower than the average.
