Many factors go into determining your property price, and sometimes a street name is one of them. With people's love for furry friends only increasing, could having an animal street name increase property value?
As a result, energy switching site SaveOnEnergy set out to determine whether having an animal in your street name could raise the value of a property by gathering data from HM Land Registry between 2008 and 2021 before being adjusted for inflation and converted into modern house prices. We then compared road name information to a comprehensive list of animals.
The mean value of a property on each "animal" street was deducted from the mean home price within that area, leaving us with an overall ranking of animals that increased property value the most and where these animal street names added the most value.
Overall, our research found that any street name mentioning an animal increases house prices by an average of £171,463.87 across England. But what effect do road names have on property value in general, and should this be something we look out for when house hunting?
Brighton and Hove come out on top with the highest property value increase for animal-related street names. The average house price discrepancy is a rise of £1,233,260.18, which is mainly down to lion-related names, with Black Lion Lane and Black Lion Street found in the area.
Greater London, the most expensive region to buy a house, also sees a substantial property value increase when animals appear in street names. On average, a house on a street with an animal in the name is worth £906,957.98 more than houses that are not.
Animal street names in Tyne and Wear, including White Horse View, Silver Fox Way, and White Swan Close, can add £748,851.45 to a property’s value. Likewise, if you live on an animal-related street in Wokingham, you can expect your property value to increase by £322,705.61.
Living on a street with an animal mentioned can bump up the value of a property by £317,390.49 on average in Bath and North East Somerset. The county is home to street names like Red Lion Lane and Pack Horse Lane. This is more than £50,000 more than Central Bedfordshire, where the difference in property value between animal street names and standard road names is £255,263.47.
Rounding off the top 10 counties where animal street names add the most value is the county of Windsor and Maidenhead – home to roads like Copper Horse Court or Black Horse Yard. We can reveal if you live on one of these road names in this county, you can expect your property value to be £149,101.77 more than standard street names.
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We can reveal the county where an animal street name could cause the greatest loss in property value is the county of Bournemouth, Christchurch and Poole (BCP). Despite the county being home to two of the cleanest beaches in the UK, this county does not fare well when it comes to animal street names. The county of Poole is worse off, though, with properties having an average value decrease of £80,954.07.
Even though County Durham is home to the charmingly named Dabble Duck Industrial Estate, properties on animal-related street names in the county decrease by an average of £73,642.73. Swansea and Stockton-On-Tees follow behind, as animal street names in these counties can reduce house prices by £71,691.72 and £62,449.71, respectively.
Herefordshire’s Humble Bee Park, Golden Lion Close and Black Swan Walk don’t positively impact house prices either. Our research found that these sweet names result in an average property value decrease of £60,499.58.
Gwynedd in Wales has a road named Red Lion Street, similar to an area in Bath, but on this street the property value is down £53,517.19 on average compared to other areas in the county.
Our research can reveal that a bear can increase property value the most when included on a street name. If you are lucky enough to live on a street with these mammals appearing in the name - such as Black Bear Lane in Cambridgeshire, Polar Bear Drive in Yorkshire, and Old Bear Court in Norfolk - you can expect a rise in value of £243,385.04.
Following closely behind is a horse, with an average price increase of £233,807.99 if this animal features in the street name. The animal resulting in the third highest property increase is a lion after our research found having a feline in your street name increases property value by £224,709.02.
On the other hand, which animals could decrease the value of a property the most? It's bad news for Lone Eagle Close in Southampton and White Eagle Road in Swindon, as if you live on a street with an eagle in its name, your property value could decrease by a whopping £42,290.69!
Another animal street name that could reduce the value of your property is a duck. Having these birds in your street name could result in a value decrease of £31,194.11. One notable example of this is Ruddy Duck Lane in Norfolk, which has a price decrease of over £55,031.
Lastly, having a falcon in your street name can also result in a decrease in property value. In fact, houses in Blue Falcon Road in South Gloucestershire have a value of £23,134.42 less than other streets in the area without the bird of prey in their street name.
SaveOnEnergy set out to discover whether having an animal featured in your street name can increase the price of properties located on the road.
To do this, property sale prices from each street were firstly obtained from HM Land Registry from 2008-2021 (April). The property prices were adjusted for inflation, and the consumer price index was utilised to convert them to modern house prices.
The street name data was cross-referenced to an extensive list of 65 animals*. To ensure a fair assessment of property prices, for an animal to be featured on the list at least 10 properties must have been sold on a street featuring their name since 2008. The seed list of animals was compiled from sources such as AZ Animals and True Travel.
To create a final ranking, the mean value of a property on each ‘animal’ street was subtracted from the mean house price within that district to determine the increase in value.
*Only full animal names which are clear and readable were included in the study. For example, ‘bat’ from ‘Bath’ was not counted, but the likes of Red Lion Square are.