The festive street names that could add value to your home

Earlier this month, Alan Boswell Landlord Building Insurance compared the property prices of festive-named streets against similar properties to reveal which name had the biggest impact on property value.

Those with “sled” in the name came out top, encouraging an increase of over £19,700 when compared with similar property types in the same areas.

A “reindeer” street name has the potential to enhance property values by around £19,200 – an increase of 9.8pc – and “tinsel” could help boost values by around £18,600.

Data has revealed that living on particular streets with festive connections could impact property prices (Image: Getty Images)
To get the data, Alan Boswell Landlord Building Insurance accessed price paid data for all property sales in England and Wales between January 2018 and September 2022, before filtering the data to include only the properties located on a festive-named street.

Keywords such as “snowball”, “reindeer”, “tinsel”, “sled”, “winter”, “frost”, “mistletoe” and “Christmas” were used in the search and then compared with the average price of similar properties in the same areas – for example, a flat, terrace or detached home within the same area but not on a festive-named street – and the difference in price calculated.

The results also revealed the street names that could negatively impact property prices.

According to the data, street names with “elf” in them could decrease property values by around £180,000 and those with “rudolph” in them by around £156,000.

To obtain the data, the firm looked at price paid data for homes between 2018 and 2022 and compared those on festive-named streets with similar properties in the same area (Image: Getty Images)
The data also revealed the number of properties on festive-named streets in each of the areas analysed.

Norwich had 47 properties located on festive-named streets and Ipswich recorded 37.

In response to the data, Heath Alexander-Bew, director of personal lines at Alan Boswell Landlord Building Insurance, offered some guidance on how homeowners could improve the value of their properties.

“With a rocky housing market this past year, property demands and asking prices are beginning to reduce," he said. “It is therefore essential for homeowners to keep properties up to date and improved in this ever-changing environment.

“Every property is different, so conduct in-depth research before spending hefty amounts on renovations. Before deciding on that kitchen revamp, consult an agent first and discuss a suitable course of action for your property. 

“Additionally, whilst modernised spaces are on-trend, prioritising comfort and a cosy atmosphere could be more beneficial. So, stay well-connected with both homeowners and buyers alike.”