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On the JJ Barnes Blog, I check out research from Alan Boswell Landord Building Insurance about how festive street names are actually making properties more valuable as we approach Christmas!
I love Christmas, and we are hoping to move to a bigger house at some point in the future, but I had never considered the idea that the two could impact each other! But research from Alan Boswell Landlord Building Insurance has given me a shock. Did you know that living on a festive-named street could enhance the value of your home?
Experts at Alan Boswell Landlord Building Insurance compared the property prices of festive-named streets against similar properties* in England and Wales, to reveal all.
The festive street names boosting property values the most:
| Rank | Festive term | Average price of a festive street property (£) | Average price of similar properties* (£) | Average price difference (£) |
| 1 | Sled | £329,000.00 | £309,264.22 | +£19,735.78 |
| 2 | Reindeer | £216,195.65 | £196,898.15 | +£19,297.50 |
| 3 | Tinsel | £211,500.00 | £192,846.90 | +£18,653.10 |
| 4 | Snowball | £171,798.88 | £154,154.56 | +£17,644.33 |
| 5 | Stocking | £284,480.71 | £277,085.49 | +£7,395.22 |
Sled
Alan Boswell Landlord Building Insurance found that the festive street name influencing property value the most is ‘Sled’, with an increase of £19,735.78! This festive street name can achieve property prices of £329,000 on average.
Reindeer
A street named ‘Reindeer’ could enhance the property value by £19,297.50. Reindeer could bump property prices up to £216,195.65 (9.8% increase), compared to the £196,898.15 average of similar properties*.
Tinsel
‘Tinsel’ street names come in third, helping to boost property values by £18,653.10, increasing from £192,846.90 to £211,500 on average.
The festive street names devaluing property values the most:
| Rank | Festive term | Average price of a festive street property (£) | Average price of similar properties* (£) | Average price difference (£) |
| 1 | Elf | £362,250.00 | £542,625.26 | -£180,375.26 |
| 2 | Rudolph | £415,208.33 | £571,612.77 | -£156,404.44 |
| 3 | North Pole | £441,666.67 | £566,142.72 | -£124,476.05 |
| 4 | Gift | £251,625.00 | £357,627.13 | -£106,002.13 |
| 5 | Nativity | £330,000.00 | £421,972.50 | -£91,972.50 |
Elf
At the other end of the impact, ‘Elf’ tops the list by decreasing property values by a startling £180,375.26! With a 33.24% drop, properties on ‘Elf’ streets are valued at £362,250, compared to the £542,625.26 average of similar properties.
Rudolph
Everybody’s favourite reindeer ‘Rudolph’, could cut your property’s value by £156,404.44, decreasing to £415,208.33 on average.
The festive street hotspots boosting property values the most:
| Rank | Location** (towns and cities) | Average price of a festive street property (£) | Average price of similar properties in the same area (£) | Average price increase (£) |
| 1 | Newcastle-upon-Tyne | £314,735.12 | £192,594.43 | £122,140.69 |
| 2 | Crewe | £342,267.92 | £247,509.77 | £94,758.15 |
| 3 | Wilmslow | £357,066.29 | £293,040.29 | £64,026.01 |
| 4 | Bedford | £349,842.86 | £303,177.16 | £46,665.70 |
| 5 | Borehamwood | £529,995.00 | £487,223.29 | £42,771.71 |
| Note: Official Price Paid Data were used to gather data for the average price of properties in festive-named streets and the area’s price of properties with similar characteristics. **This dataset analyses towns and cities with a population of 20,000 and above in England and Wales. |
Newcastle homeowners can see the biggest increase in property values on festive street names, up by £122,140.69. Properties in Newcastle average at £192,594, but those on festive-named streets can cost £314,735 on average.
Property Value
“Every property is different, thus, it is important for homeowners to conduct in-depth research before spending hefty amounts on major renovations,” said Heath Alexander-Bew, director of personal lines at Alan Boswell Landlord Building Insurance. “Start by identifying if the space truly requires re-modelling or whether giving the space a refresh – from simple decor to a new paint shade – is enough to improve the quality of your home. Additionally, whilst modernised spaces are on-trend, prioritising comfort and a cosy atmosphere which you and future buyers will enjoy could be more beneficial.”
So, maybe when we do get to finally get on the property ladder, my family could combine our love of Christmas with our desire to move and create something festive AND financial!
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