• Sun. Apr 14th, 2024

North East Connected

Hopping Across The North East From Hub To Hub

shutterstock_2528828 (1)

In Newcastle upon Tyne, the average property value on streets with festive names is more than double the average price of similar properties, a bigger boost than anywhere else across England and Wales.

From Rudolph Street to Tinsel Lane, the name of your street could be the gift that keeps on giving this Christmas. Festive street names have a surprising impact on property value, but which areas are impacted the most?

Keen to find out, the experts at chartered surveyors, Stokemont, compared house prices on festive streets across England and Wales to similar properties in order to learn more.

The areas where festive street names are boosting property value the most

Ranking Town/City Average Festive Street Sale Price Average of Estimated Price of similar property Average Price Increase Average Price Increase (%)
1 Newcastle upon Tyne £409,136 £202,321 £206,815 102.22%
2 Southampton £624,976 £383,700 £241,277 62.88%
3 Woking £853,056 £612,565 £240,490 39.26%
4 Crewe £342,268 £247,510 £94,758 38.28%
5 Rossendale £189,823 £149,151 £40,672 27.27%
6 Wilmslow £457,359 £363,867 £93,492 25.69%
7 Banstead £760,019 £614,747 £145,272 23.63%
8 Rotherham £230,698 £192,459 £38,240 19.87%
9 Whitley Bay £264,980 £226,798 £38,182 16.84%
10 Barry £167,648 £144,814 £22,833 15.77%

The number one area where festive street names have the highest positive impact on property value is Newcastle upon Tyne

Here, the average house price is more than doubled on festive streets, seeing an average increase of £206,815 (102.22%).

Next in the rankings is Southampton, where the average price increase is 62.88%, or a huge £241,277

The next biggest property value boost from festive streets is in Woking, where the average price is increased by £240,490 (39.26%). 

In a very close fourth, with an average price increase of 38.28% (equivalent to £94,758), is Crewe.

And taking the last spot in the top five is Rossendale, where festive streets see an average increase of 27.27%, (£40,672).

However, not everyone sees a positive impact from festive streets; some areas see a different side to these jolly street names.

The areas where festive street names are lowering property value the most

Ranking Town/City Average Festive Street Sale Price Average of Estimated Price of similar property Average Price Decrease Average Price Decrease (%)
1 Yarm £174,291 £249,560 -£75,269 -30.16%
2 Warrington £129,232 £184,039 -£54,808 -29.78%
3 Northwich £156,462 £216,607 -£60,146 -27.77%
4 Waterlooville £173,876 £231,229 -£57,353 -24.80%
5 Sutton Coldfield £286,339 £363,884 -£77,545 -21.31%
6 Basingstoke £286,643 £358,871 -£72,229 -20.13%
7 Great Yarmouth £183,834 £224,881 -£41,047 -18.25%
8 Bristol £283,826 £341,431 -£57,605 -16.87%
9 Swansea £145,679 £174,704 -£29,025 -16.61%
10 Fareham £307,332 £368,178 -£60,847 -16.53%

The area where festive street names are doing the most damage to property value is the town of Yarm, which sees a huge 30.16% decrease, or £75,269, on average.

In a close second is Warrington, with a £54,808 decrease in value, equivalent to 29.78% on average

Next up is Northwich, which sees an average £60,146 decrease in property value on festive streets, or 27.77%

The fourth biggest impact is in Waterlooville, where the average price decrease on festive streets is 24.80%, or £57,353.

Finally in fifth is Sutton Coldfield, which sees a £77,545 decrease in property value (21.31%).

Festive street names affecting property value the most

Not all festive streets are created equally; street names containing the word Snowball are the most lucrative on the list, increasing the average house price by a huge 11.45% (£17,644 on average).

Following closely behind are streets with the term ‘Reindeer’ in the name, which increase property value by 9.80% on average (£19,298).

However, the number one festive term devaluing properties is Rudolph, knocking a huge £130,337 off the price on average, a shocking 23.02% decrease compared to similar properties.

Next up are street names containing the word Turkey, which decrease house prices by 9.96%, or £35,539, on average.