An old adage warns you shouldn’t judge a book by its cover, but what about judging a property by its street name?
According to research carried out by Bankrate, road names containing a word with positive or happy connotations can increase a property’s value by an average of £24,830.86 when compared to similar streets in the same area.
The study found that 92% of people do not believe the name of a street is liable to influence their buying decisions, but the data seems to indicate that the more optimistic the road’s name, the more people are willing to pay for a property.
The ten happy road names that most significantly increase the value of a property (and the average added value) are:
1. Chipper (£56,571)
2. Pretty (£44,918)
3. Gay (£40,293)
4. Pleasure (£39,836)
5. Dancers (£32,029)
6. Beam (£30,623)
7. Heaven (£29,273)
8. Merry (£27,619)
9. Peace (£24,986)
10. Eager (£21,921)
The study also set out to unearth the most common road names in England and Wales that elicit positive thoughts and feelings. The top 10 (and the number of streets containing that word) are:
1. Hope (216)
2. Summer (127)
3. Sunny (126)
4. Love (123)
5. Pleasant (118)
6. Paradise (109)
7. Angel (90)
8. Bright (65)
9. Rainbow (48)
10. Flower (31)
If you live on a street with a happy name – Love Lane (City of London), Hope Street (Battersea), Pleasant Place (Islington) or Ha-Ha Road (Greenwich), for example – and want to see how much your property is worth, why not book in a free property valuation?
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