What’s in a Street Name? Can it Add Value?
Estimated reading time 2 minutes
What’s in a name? Well, it turns out that if it is a name of a street or village it can mean quite a lot. Unusual and funny place names are not uncommon in the UK, but some are so embarrassing that many buyers are put off from purchasing a property on the road.
According to research by needaproperty.com, 60% of people said they wouldn’t consider living on a street with a suggestive name, whether it be Backside Lane, Butt Hole Road or Crotch Crescent – and who can blame them!
Can a street name increase or decrease a property’s value?
But while having an unusual address can be an interesting talking point, it is important to remember that it might be difficult when you come to sell your property fast.
According to a study, properties on streets with rude or embarrassing names are worth on average £84,000 less.
needaproperty.com
Even though this might be an annoyance for those selling their property on rude street names, it is good news, however, for buyers wanting to get onto the property ladder, who are unconcerned with quirky names. A bargain could be had if you don’t mind living in Scratchy Bottom!
There are other ways you may, unintentionally, increase your property’s value or decrease your property’s value. Read our posts to find out before moving or carrying out any home improvements.
Can a street name change?
But bear in mind that a rude or suggestive road name doesn’t mean it will stay in-situ forever. In 2009, the residents of Butt Hole Road in South Yorkshire decided they had had enough of the ridicule and petitioned to have their road name changed to Archers Way. But, not everyone feels the same; the residents of Butthole Lane in Leicestershire are adamant that the name will remain in place for years to come.
Feature image credit: creativemedia.org.uk/Shutterstock
