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Happy Street Names = More Valuable Home?

Happy street name equals a more valuable home?

Posted On September 28, 2020

Do you fall into the 92% of people who aren’t bothered about the street name when they are looking for a new home? If so, newly published research might make you change your mind. According to a new study*, this seemingly insignificant characteristic has the potential to seriously impact your property’s value. In fact, streets whose names contain words associated with happiness and positivity can boost the value of properties by an average of nearly £25,000.

Feeling chipper?

According to the study, street names featuring the word ‘chipper’ add the most value to properties, potentially increasing selling prices by an average of £56,571. This is followed by ‘pretty’, which adds an average £44,918.
In Scotland, living on a street named ‘peace’ adds an average of £24,147 to your home’s value, with ‘happy’ increasing your home’s value by £15,516 on average.

The UK’s happiest regions

Some regions were also found to have more happy street names than others. If you live in the North West, you’re in luck, with the region home to 237 positive street names. This is followed by Yorkshire and the Humber, with 199 happy street names, the South East with 175, and the South West with 157.

 

 

*Bankrate, 2020

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.

Written by the PH7 Mortgages team

 

At PH7 mortgages, we pride ourselves on offering honest advice and information to help you find the mortgage that serves you best. 

We can help you work out how much you can afford and which type of mortgage you might need.

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