Can a ‘happy’ street name add value to your home? Properties with words like ‘chipper’ and ‘pretty’ in the address are worth up to £56k more than those on neighbouring roads, research shows
- England and Wales ‘happy’ street names can boost home’s value by thousands
- Bankrate, a personal finance advice website, analysed thousands of road names
- ‘Chipper’ in a road name added an average of £56,000 to the value of a property
A ‘happy’ street name can add up to £56,000 to the value of your home, research shows.
Properties with adjectives like ‘chipper’ and ‘gay’ in the address are wroth more then those on neighbouring roads, according to data from financial advice website Bankrate.
Researchers collated addresses with ‘positive’ street names and used Zoopla to compare the average house price to those on nearby roads with comparably properties.
Properties with adjectives like ‘chipper’ and ‘gay’ in the address are wroth more then those on neighbouring roads, according to data from financial advice website Bankrate. Chipper was found to be the most valuable and added an average of £56,571 to a property price. Dancer adds £32,029
For locations with these names can add nearly £25,000 on average to the value of a home, new research has revealed. Pictured, a list of the top ten positive words which seem to add value to a home price
An average was then taken for each adjective to see which word added or lost the most money.
Chipper was found to be the most valuable and added an average of £56,571 to a property price. Pretty boosted a home’s value by £44,918 on average.
Gay came in at third, with an increased price of £40,293, followed by Pleasure with a hiked value of £39,029, and Dancers with a rise of £32,029.
Florence Codjoe, personal finance expert at Bankrate, says ‘an attractive and positive road name only adds to the desirability of a property’.
Website Bankrate found Hope (above) to be the most popular positive road title across the UK
She added: ‘Road names, which include positive words such as hope and love really do boost the value of properties within that respective area.
‘Although some happy words have more of a favourable effect on price than others, an attractive and positive road name only adds to the desirability of a property.’
Most common positive street names in the UK
Bankrate found Hope to be the most popular positive road title across the UK, and here reveals the nine other terms homeowners are likely to come across.
The personal finance expert also offered advice on how residents can change their street name, explaining that most councils will consider requests if there is a good enough reason.
‘A handful of council guidelines state that one good reason includes a group of residents being unhappy with the street name,’ Ms Codjoe said.
‘This is most likely the option you will go for if you’re opting for a ‘happy’ street name change.
‘It is a very time-consuming process so it can be difficult to get approved, as it isn’t just the council’s decision, but Royal Mail are asked for their position and whether they agree it is necessary.
‘You must also ensure you obtain permission from the majority of residents on your street, so gathering enough signatures is essential. You can start by building a good case and having a solid street name that is sure to get your neighbours on board.
‘Something like, Love Lane or Hope Avenue, might fare well amongst the residents. If the neighbours and council agree then you are on the way to a successful street name change.’
The second most expensive address contained the word Pretty, which boosted a home’s value by £44,918 on average and is most popular in the East of England. Gay (pictured) came in at third, with an increased price of £40,293
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