What’s in a street name? A huge saving, if you buy a property located on the ‘Lonely’ and ‘Alone’ streets in the UK
Romance certainly plays a big factor when it comes to buying property, as an increasing number of couples in their 20s look to fly the nest and climb the property ladder.
We recently shared how living on a romantic street name could boost your property value by thousands of pounds, but did you know that moving into a property on a ‘lonely’ street name could save you up to £170,000!
A new study by InventoryBase shows that properties found on streets with names related to being single/lonely are on average £12,000 cheaper than the average UK house price in 2022 (£255,000). Who knew it pays to be unloved this Valentine’s Day!
Using government data, the results were calculated by finding the average house price of over 600 properties located on streets such as Single Street, All Alone Road & Lonesome Lane, before comparing them with the national average house price.
Here are the top 5 cheapest ‘Lonely’ streets:
1. Bachelor Road, Harrogate, North Yorkshire
Average House Price = £160,275
Difference of Average Street House Price vs UK House Price Average: Decrease of £95,625 (37%)
2. Free Lane, Rossendale, Lancashire
Average House Price = £135,232
Difference of Average Street House Price vs UK House Price Average: Decrease of £120,668 (47%)
3. Lonesome Lane, Reigate, Surrey
Average House Price = £163,460
Difference of Average Street House Price vs UK House Price Average: Decrease of £92,440 (36%)
4. Independent Hill, Alfreton, Derbyshire
Average House Price = £77,115
Difference of Average Street House Price vs UK House Price Average: Decrease of £178,785 (69%)
5. All Alone Road, Bradford, West Yorkshire
Average House Price = £223,215
Difference of Average Street House Price vs UK House Price Average: Decrease of £32,685 (12%)
The study also reveals that Yorkshire has the most amount of ‘lonely’ streets, making up 29% of the UK’s unloved streets. These include; Bachelor Hill (York), Bachelor Lane (Leeds), Bachelor Road, Bachelor Way & Bachelor Gardens (All Harrogate), All Alone Road & Independent Street (Bradford).
Advising homeowners not to get deterred by ‘depressing’ street names, Steve Rad, CEO of InventoryBase shared some tips for adding value to your home: “One of the easiest ways to add value to your home is by improving its curb appeal.”
“Start by refurbishing the front door which can cost less than £100! 43% of people’s opinion on a home is made up within five minutes of seeing it so the face value of your home is extremely important.”
“Tidying up the rest of the outside décor, including painting the house itself, can also increase a home’s value, whilst converting a loft into a living space can add up to 15% to the final value of your home.”