A road by any other name: how do names affect value?
by Housesimple on 3rd November 2016
There are all kinds of surprising things that can affect how much your house sells for – whether it’s a novelty doorbell chime, an overgrown garden or a pink front door. It's even possible to estimate your house value by address, even if you ignore the town and county, thanks to the name of the road.
What is my house value on my road?
If you live on a Warren (as opposed to a Street or Road), you’re in luck – that's the most valuable road name, fetching house prices of over £600,000. If you live on a Street, you might be less lucky – a 2010 Zoopla survey puts average house sale prices at around a quarter of that figure.
It’s also handy if you live near a church, as roads with Church in their name were worth around 33% more than the national average. Living on a Hill or down the Lane can also be an advantage, with houses worth around 50% more than average.
While there's no logical explanation for these findings, one answer could be that Lanes and Hills are considered more exclusive: why live on a Road when you could live on a Mews? Another idea is that suburban towns with high prices generally happen to have more varied street names than small villages or city centres.
Should I give my house a name?
A house with its own name can help it to stand out from the crowd. Some estate agents think a house name can add between 0.5% and 5% to your valuation, so it’s unlikely to hurt.
Conventional wisdom says to pick something British and classic – with names like The Cottage for older properties, The Willows for a house surrounded by lots of trees, or even Shallow Stream for a property with a babbling brook. If you’re thinking of changing your home’s name, be sure to contact your local council first.
No matter what road you live on, HouseSimple.com can make selling your property easy.
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