Who hasn’t seen a funny or rude street sign in their time? Even before people shared them on social media, we all knew of one in our area that tickled us. But have you ever considered how the name of your street might be affecting your house price?
That’s what a study conducted by Hometrack claims. If your property is based on a road named “Lane” you will be commanding the highest prices of any street in the country, with roads named “Way” coming in at second highest.
Meanwhile, properties based on roads named “Street”, “Drive”, or “Avenue” were the most affordable of the category.
Most Valuable Street Names
- Lane
- Way
- Road
- Close
- Avenue
- Drive
- Street
There were some regional discrepancies in the findings. Whilst “Lane” was the most expensive in England and Wales; the most expensive street names in Scotland and Northern Ireland were “Close” and “Road” respectively.
In a separate study, it was discovered that royal names come with a royal price tag too with properties on roads with King in the name are 20% more expensive than those with Queen, while Prince is 35% more valuable than Princess. ’, ‘court’ or ‘terrace’.
The research also discovered that rude or humorous names (like Slag Lane in Leicester) tend to draw a slightly lower that average price.
Properties on Cock Hill Lane in Rubery are worth £60,000 less than properties the street over. Likewise, properties on Minge Lane in Worcestershire are worth half as much as a property on neighbouring roads.
Whilst this may seem like an immature way to shop for homes, an unfortunate name can cause day to day problems for home owners. For example giving the address for things like taxis or setting up bills can mean you don’t get taken seriously by a lot of people.
Whilst this might seem like a bit of fun, it offers a valuable insight into the mind of a homeowner. Words and phrases that they associate with exclusivity and luxury all tend to command a higher prices, whilst some humorous or rude sounding names tend to push prospective buyers away.
