Home Property Property prices are up by thousands on these festive streets

Property prices are up by thousands on these festive streets

by LLP Finance Reporter
5th Dec 23 8:07 am

According to the findings, street names containing the word ‘Snowball’ are the most lucrative on the list, increasing the average house price by a huge 11.45% (£17,644 on average).

Following closely behind are streets with the term ‘Reindeer’ in the name, which increase property value by 9.80% on average.

Coming in a close third, and increasing the average house price by a substantial £28,565 (or 9.25% on average), are Stocking-related street names.

According to Stokemont’s research, the area where you’re in the most luck if your property sits on a festive street is Newcastle upon Tyne, where the average house price more than doubles on festive streets.

The data shows that properties in the north east city boast an increase of £206,815 (102.22%). This is followed by Southampton, with an increase of 62.88%, or £241,277.

Sadly, not all festive street names will leave owners feeling holly and jolly, as some can actually lower property value.

The number one festive street name devaluing properties is ‘Rudolph’, knocking a huge £130,337 off the price on average, a shocking 23.02% decrease compared to similar properties.

Next up are street names containing the word ‘Turkey’, which decrease house prices by 9.96%, or £35,539, on average.

Whilst the third biggest hit to property value is on streets with the word Nicholas in the name, where the average decrease in property value is 5.73%.

Despite being just a stone’s throw away from Newcastle, where property value rockets on streets with a festive name, property prices in Yarm were found to decrease in value if situated on a street with a festive name, by an average of 30.16% (£75,269).

It’s similarly gloomy news for homeowners in Warrington where festive streets result in a decrease of 29.78%, equivalent to £54,808 on average.

This Christmas, the name of your street could be the gift that keeps on giving, with festive street names having a surprising impact on property value.

But from Rudolph Street to Tinsel Lane, which festive street names are impacting property value the most?

Keen to find out, the experts at chartered surveyors, Stokemont, compared house prices on festive streets across England and Wales to similar properties in order to learn more.

Leave a Comment

You may also like