Can a Royal Street Name Increase the Value of a Property?
There are many factors to consider when choosing a new home to buy, and each factor can impact the value of your home and how quickly they sell. But have you ever considered how having a “regal” street name might affect your house price?
Our latest research can reveal that street names that share the same first name with a Royal could increase the value of your property by £21,289! But which Royal road name might affect the value of our homes the most?
The most valuable ‘Royal’ street names in the UK
To determine which Royal names could add the most value to a property, we compared the average cost of a property on each street named after a Royal to the average cost of a home in the UK (£237,834).
We found that the most valuable Royal name is Sophie, with properties on street names with this Royal moniker being valued at a whopping £221,016 more than the average price of a UK property. In fact, we found properties containing this name cost almost half a million, on average (£458,850).
With just 14 street names including Camilla, the Royal name proved to be an uncommon yet valuable street name to reside on as our analysis found that the average price of properties on street names that included Camilla were £332,791. That works out at an impressive £94,957 more than the average cost of a home in the UK!
The Duchess of Cambridge’s first name proved to be the third most valuable Royal moniker. Properties on streets that included either Kate or Catherine had an average property price of £305,562, meaning that properties on these streets were valued at £67,728 more than the average UK property price.
Her Majesty placed as the fourth most valuable Royal name in the UK, with street names including Elizabeth being valued at £251,424 on average. Across the 456 streets using the Queen’s name, properties can expect to fetch £251,424 – an increase of £13,590 when compared to the average price for a home in the UK.
The fifth most valuable Royal name is Harry. On average, properties on streets sharing the Prince’s first name were valued at £10,069 more than the average property in the UK, with an average value of £247,903.
Streets mentioning female Royal names were worth considerably more, on average, than male Royal names. Not only did the four most valuable Royal street names derive from female royalty, but the price of properties on streets including the names ‘Charles’, ‘William’, ‘Edward’ and ‘Phillip’ were found to be below the average UK property price. In fact, properties on street names including ‘Phillip’ have the least value of all, averaging between £127,539 – that’s £110,295 less than the UK average.
The 5 most common ‘Royal’ street names
There are 2,843 Royal-named roads in the UK, but which members of the Royal family are most commonly found in UK street names?
The most common Royal street name is Alexandra, with a total of 599 street names in the UK including this moniker. The most common street name with this Royal’s moniker is Alexandra Road, with 199 roads sharing this name.
Properties containing the Royal name, Alexandra, were found to cost £242,226 on average – £4,292 more than the standard price of a UK property.
The second most common Royal street name is Edward, with a total of 503 street names bearing this Royal name. The most popular being Edward Street, with an impressive 200 roads across the UK.
However, according to our analysis, properties on these roads were worth £20,855 less, on average, than the standard UK property.
Charles was the third most prevalent Royal name found in our street analysis, with 491 street names found in the UK – 203 of these road names are “Charles Street”.
However, like Edward, properties on streets including the name Charles were found to be more than £13,000 less than the average price of a standard property in the UK.
Her Majesty the Queen comes in fourth, with 456 streets named after her in the UK. According to our analysis, road names displaying the name Elizabeth are set to increase a property’s value by more than £13,000, on average – good news if you live on Elizabeth Avenue, Elizabeth Close or Elizabeth Gardens, to name a few.
William was the fifth most common Royal-named street in the UK, with 429 streets displaying the Prince’s name. Fortunately for buyers looking to get onto the housing market, properties on streets named after the Duke of Cambridge were worth almost £20,000 less than the standard UK property. However, this may be problematic when it comes to selling and increasing the value of your home, of course.
The regions where Royal street names add the most value
With certain Royal street names proving more valuable than others, we sought to find out whether where your property is situated in the UK could also influence your property’s value.
Our research shows that Royal street names proved most valuable in London, with properties valued at an impressive £593,736, on average. When compared to London’s average property price of £490,495, this means that living on a street named after a Royal could make your property worth £103,241 more!
Royal street names were also favourable in the South East, where properties on Royal-named roads were worth £359,036 – £31,478 more, on average, than the price of a standard property in that region (£327,558).
Northern Ireland was also among the most valuable region to have a Royal street name, with the average property mentioning a Royal being valued at £168,404 on average – an increase of £27,273 when compared to Northern Ireland’s average house price of £141,131.
The West Midlands is the fourth most valuable place to have a Royal-named street, with property prices set to increase by £22,043. Whilst the average property price in the West Midlands is £187,691, the price of a property sitting on a Royal named street in the West Midlands is worth £209,734, on average.
Royal street names were fifth most valuable in Scotland, where living on a street named after a Royal can increase your property’s price by more than £10,000. The average property in Scotland is worth £157,056, on average, compared to £168,160 for properties situated on a Royal-named street.
The regions home to the most Royal streets
If you are in search of a regal street name, we’ve done the hard work for you. According to our analysis, the following regions are home to the highest number of streets named after a Royal:
1. North West
The North West region is home to the highest number of Royal street names in the UK, with a grand total of 375. However, in this region, Royal road names are worth almost £10,000 less on average than the regional property average.
2. South East
The South East had the second highest number of Royal street names, with 353 in total. In this region, Royal road names have an average property value of £359,036, almost £23,000 more than the regional average
3. Yorkshire and the Humber
In third, with 281 streets named after a Royal, is the Yorkshire and the Humber. However, the average property price for a home on a Royal street here is £14,612 less than the average property price for the region (£169,020).
4. East of England
Shortly behind with one less Royal street name is the East of England, with 280 in total. According to our analysis, properties on a Royal street are valued at £281,616, on average, compared to the region’s average house price of £295,856 – £14,240 less.
5. South West
The South West has the fifth highest number of Royal street names, with a grand total of 277. It seems living on a street named after a Royal is worth it here, with house prices costing £270,632 – £7,158 more than the average property in the region (£263,474).
To determine which Royals were to be studied, Online Mortgage Advisor (OMA) collated a list of the current working Royals. Please note that the street names analysed only included each Royal’s given name. For example, street names that included ‘Edward’s’ or ‘William’s’ were not included in this study. Although there are two Edwards in the Royal family (The Earl of Wessex & Duke of Kent), they have been categorised as one.
OMA then went on to use Streetlist and Zoopla to find a comprehensive list of road names within the UK that included these Royal names. The street names analysed only included those with a Royal name at the start. For example, ‘Avenue Alexandra’ would not be included, however, ‘Alexandra Avenue’ has.
Once each street name from across the UK had been found and collated, OMA referred to the home values tool on Zoopla which provided data on the average house price of each street in the UK that included a Royal in its title.
After finding the average cost of each Royal road name, OMA used Land Registry data to find the average cost of a house in the UK, alongside each regional average for a property.
Lastly, using the House Price Index, we analysed each Royal road name to find out which names increase or decrease the value of a home.
Header image photo credit: Ian Francis / Shutterstock