Research from the game-changing property platform, Boomin, has revealed that living on a Valentine’s related road name could leave you feeling loved up if you’re looking to sell in 2022, with house prices sitting above the national average, having jumped by 20% in the last year.
Boomin analysed sold prices across property sales to have completed in 2021 which contained one of eight Valentine’s themed terms within the road name, including Love, Valentine, Heart, Arrow, Sweet, Rose, Flower and Kiss or Kissing.
In total 2,494 Valentine’s homes sold across the nation from Allerdale to the Amber Valley, Barking to Bury St Edmunds, Guildford to Great Yarmouth, St Helens to Swansea, Windsor to Wrexham and everywhere in between – with homes on roads with Rose in the name by far the most popular with 1,887 transactions.
But how much will a Valentine’s Day property purchase set you back?
The data shows that homes sold across Valentine’s Day roads averaged £293,813 over the last year, 4% higher than the current national average across England and Wales. What’s more, they’ve increased in value by a huge 20% compared to the previous year.
When it comes to the Valentine’s Day related road name showing the most love to homeowners, those with ‘Love’ in the name are fittingly the biggest catch. In the last year, homes sold on Love roads have averaged a huge £349,000, 29% more than the current national average, having increased by 22% in value on an annual basis.
They’ve also been the second most popular, with 306 transactions taking place across the likes of Love Lane in Spalding, Love Road in Lowestoft and Love Row in Milton Keynes.
Streets with ‘Flower’ in their name, such as Flower Hill in Reading or Flower Avenue in Nottingham, also placed highly, with a total of 57 transactions seeing an average sold price of £332,500 – up 33% in the last year.
‘Valentine’ named roads saw properties sell for an average of £325,000, with homeowners also securing more than £300,000 on average across roads with ‘Sweet’ in the name (£311,000).
Homeowners on ‘Heart’ related road names have enjoyed the biggest boost in values, with the average sold price climbing by 55% compared to 2020, good news for those living on the likes of Goodheart Way in Leicester or Heartwood Close in Liverpool.
‘Arrow’ (£268,000) and ‘Rose’ (£265,000) also enjoyed strong sold price performances, as well as year on year increases in property values.
However, there is one Valentine’s Day road name that won’t want to make homeowners pukka up this Valentine’s Day. Roads with ‘Kiss’ or ‘Kissing’ in the name such as Kissing Gate in Hull have not only seen a below average sold price of £215,000 in 2021, but this value also fell by -23% on the previous year.
Michael Bruce, CEO and Founder of Boomin, says:
“It’s fair to say that as a nation we’re infatuated with our homes and this love has grown even stronger during the pandemic, as we spent plenty of time buying, modernising, expanding and enjoying them during lockdown.
While it’s always hard to let go of a loved one, those that are planning to sell up in 2022 could be head over heels when they come to value their home in current market conditions, as house prices have boomed during the pandemic.”
