Home Buying Study: Streets with silly names have lower property prices

Study: Streets with silly names have lower property prices

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Bad news for property owners on Butt Street, Wanke Road and Fanny Street.

A study conducted by high school students at Sacred Heart College (SHC) in Geelong, has found that houses on streets with names such as the above have significantly lower value than those on nearby “normal” streets.

The students identified a total of 27 streets in Victoria with silly names and then looked at them on Google Maps, and found adjacent streets to compare then with.

ABC News reports that the students found property prices in the 27 street were about 20% lower than the others.

At least it’s good news for bargain hunters who are looking for affordable housing in high-priced Melbourne. The students say a silly named street could net a $140,000 saving on a median-priced Melbourne house.

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The students also surveyed 323 adults to find out how they felt about silly street names.

One third of those surveyed said they wouldn’t want to live somewhere like Grogan Court due to embarrassment.

But houses on silly streets can still sell. This place on Bogan Street just sold for $1.6 million. How many proud bogans do you know with that kind of money?

Source: ABC News

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