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The name of the street your home is in could have a massive impact on the value of the property, according to experts. Looking at the name of the street when you buy your property might change how much it’s worth. Although the location and size are the main variables, they are not the only aspects that can control the price of your property.
According to a new study, street names that are money-related actually increase the value of your home even more.
Finance experts at Invezz looked at money-related street names across the UK and analysed which roads banked Britons the most money.
The company analysed over 1,000 street names across the UK and found that a money-related street name can increase a home’s value by an average of £76,568 when compared with other homes in the same region.
But there’s one particular street name that comes out on top.
Those lucky enough to live in a street called “allfarthing” could see the most gain.
“Allfarthing” mentioned in your street name adds almost £340,000 to the sale price of your home when compared to the UK average.
Other street names which come out on top are “halfpence”, “cash”, “pound”, “coin”, “dollar” and “sixpence”.
Those living on a street with the name “halfpence” could expect an increase value of £315,984 on average.
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In third place, “cash”-related names could see an average of £134,687 added to the value of their properties.
There are 206 streets in the UK which feature “pound” in their name.
Those lucky homeowners have an average increased value of £116,979.
If you’re looking to buy, other street names to look out for are “rich”, “gold”, “bill”, “halfpenny”, “silver”, “money” and “farthing”.
However, it’s likely that you may never have come across a street name in your region with a money-related name and that’s because some regions have fewer of these names than others.
The region with the largest number of money-relates streets is Southwest England with 172 streets.
Properties with money-related street names in this area add £89,545 to the value of homes.
In second place is Southeast England with 129 money-related street, followed by Northwest England with 117 money-related road names.
Cash-related street names in this area add £181,021 and £97,139 respectively to house values when compared with other homes in the region.
London properties on a money-related street increase the value by £272,485, compared with the London average.
But it’s not all good news for those who live on money-related streets.
Those residing in Wales on a money-related street will see an average deduction of £69,915 in value.
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