Aspirational or well-to-do sounding street names can add thousands to the value of properties.<\/p>\n
A newly compiled list of the ten most expensive street names in Australia has shown that those with coastal references are a winner with property buyers, while royalty is a bit of a mixed bag.<\/p>\n
Names such as Grandview attract higher prices than achieved\u00a0by properties on Main Road.<\/p>\n
![\"Nerida](\"https:\/\/www.apimagazine.com.au\/media\/1001722\/nerida-conisbee.jpg\")
<\/p>\nNerida Conisbee, Chief Economist for Ray White Group<\/p>\n<\/div>\n
Perhaps less predictably, adding the word \u201cthe\u201d to a street name seems to be one sure way to raise the median price, according to Nerida Conisbee, Ray White Group\u2019s Chief Economist.<\/p>\n
\u201cLike a game of Monopoly, it turns out that some street names command a higher price than others,\u201d she said.<\/p>\n
Australia’s love of the beach comes up in Beach and Ocean making the top list. Conversely, while a nearby train line or a major road network is convenient, living on Railway Road pushes down the median. Similarly, Main Road is also on the most affordable list.<\/p>\n
Looking at the top 10 most expensive street names, The Esplanade and The Avenue both make the list. The promise of aview is also a way to get prices up – Grandview and Seaview provide on average around a 60 per cent premium to Australia\u2019s median house price.<\/p>\n
Royalty can go either way.<\/p>\n
\u201cLiving on Royal Avenue commands a premium but King Road or Queen Street pushes it down, perhaps showing that even by using a royal word as a street name doesn\u2019t necessarily guarantee a push up in pricing,\u201d Ms Conisbee said.<\/p>\n
\u201cWomen\u2019s names show a distinct difference between more flowery names compared to those that are more practical.<\/p>\n
\u201cFlorence Street gives a premium to the Australian median of 40 per cent, while Alice Street is 30 per cent below.\u201d<\/p>\n
![\"\"](\"https:\/\/www.apimagazine.com.au\/media\/1001720\/names-by-price-australia-s-most-expensive-and-cheapest-street-names.jpg\")
<\/p>\n
The findings complement studies published by the Social Science Research Network that looked at the Sydney property market and found street names with longer words are priced with a 0.6% per cent premium.<\/p>\n
Homes with unique street names are sold 1.6 per cent (or $10,835) higher than those with more common names.<\/p>\n
The study found words related to popular celebrities or trendy terms may be also attract a premium.<\/p>\n
Using Google Trends Search to create a popularity index based on search volume, the study found homes on popular street names transacted at 0.3 per cent higher prices.<\/p>\n
So, while it\u2019s clear you can\u2019t name your price, a street name can make a difference.<\/p>\n<\/p><\/div>\n