A new study has revealed that festive street names are boosting property values in Woking by nearly 40 per cent.

The study, by chartered surveyors Stokemont, compared house prices on festively-named streets across England and Wales.

The street names included key words such as ‘Tinsel’, ‘Reindeer’, ‘Snowball’ and ‘Rudolph’.

Woking saw the third biggest average property increase based on street names, with an average estimated increase of 39.26 per cent, or a potential £240,490.

The average sale price of houses on festive streets in Woking was £853,055.56, compared to an average estimated similar property price of £612,565.13.

The study also found that the price increases varied based on which festive words were in the street names.

The word ‘snowball’ made the biggest difference, increasing the average house value by 11.45 per cent across all regions, while ‘reindeer’ increased property values by an average of 9.8 per cent.

However, some words negatively affected property values, with streets named ‘Rudolph’ knocking off an average of 23.03 per cent.

The study counted 27 properties on streets with festive names in Woking, including those on Holly Close and Saint Nicholas Crescent.

Stokemont said: “Stokemont set out to determine the effect of festive street names on property value, by comparing the transaction prices of all properties on a festive street against city averages.

“Price Paid Data for all the property sales in England and Wales between January 2018 to September 2023 were obtained from gov.uk, [and] using a list of festive keywords, the Price Paid Data was then filtered to only properties on a festive named street.

“Using the Price Paid dataset, the average sale price of similar properties (the average sale price of the same property type [flat, terraced, semi-detached, detached etc] within the same city/town during the same year of sale) were obtained for each festive street property within England and Wales.

“The percentage sale price difference for each festive street property across England and Wales was then calculated, using the actual property sale price, and the average similar surrounding property price."