What’s in a house name?

26 April 2011

A new survey has reported that one in 14 people would be prepared to pay more for a house if it had a name, rather than just a number.

This was backed up by similar questions on the survey, with 40% of people saying they would be more interested in viewing a property with a name.  According to data at the Land Registry there are 1.4 million houses in Britain with a name - approximately 5%.

Another question on the survey showed that 39% of people preferred to buy a house in a street called Garden, Green or Mews.

Jennifer Warden, from Globrix, explained: “It may sound ridiculous but it’s part of human psychology that small changes in perception can affect what we’re prepared to pay for something – and that includes homes. A property with a name has connotations that people are prepared to shell out extra for, so perhaps canny sellers should rechristen their abodes as soon as they can.” 

Aviva, the UK’s largest insurer, did their own survey looking into the British fascination of naming homes and stated they had customers living in ‘Dun Struglyn’, ‘Dun Soldrin’, ‘Dun Learnin’ and even ‘Dun Farmin’.

The most popular name for a house was “The Cottage”.

Has your house got a name? Will it increase the price you could achieve? Find out today with a free house valuation from one of the estate agents we recommend.

 

* Survey compiled by Globrix

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