Does having an animal street name increase property value? Here are the top 10
SEVERAL factors are taken in to decide how much a property is worth, but does a road named after an animal help boost how much your home is worth?
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According to a study by switching site SaveOnEnergy, having certain creatures that walk the planet within your street name can dramatically increase prices. Overall, the research found that any street name mentioning an animal raises house prices by an average of £171,463.87 across England.
To conduct their findings, the company gathered data from HM Land Registry between 2008 and 2021 before being adjusted for inflation and converted into modern house prices.
They then compared road name information to a comprehensive list of animals, giving an overall ranking of which furry friends that increased property value the most.
From the top 10 animals that made the list, having a road with named after a bear will help grow the value an owner's property the most - 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.
Dogs, the UK's most popular pet, surprisingly ranked a rather disappointing 14th place, increasing property value by £32,721.79.
Since the lockdown, 3.2 million UK households bought a pet, including 12 million dogs, three million birds and 1.5 million reptiles.
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.
Love Dogs?
On average, a house on a street with an animal in the name is worth £906,957.98 more than houses that are not.
On the other hand, which animals could decrease the value of a property the most?
It's bad news fans of birds, if your property is on a street named after an Eagle, this could decrease homes 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.
READ MORE: 7 must-haves to secure a mortgage
Here is the list of the Top 10
1. Bear
2. Horse
3. Lion
4. Fox
5. Bee
6. Buzzard
7. Deer
8. Robin
9. Salmon
10. Otter
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