Australian homes worth more on a Street than a Road
A recent study into NSW home values by Residex has produced some interesting results, with addresses containing the word “street” worth $100,000 more than those ending in “Road”. Further, addresses in avenues, esplanades or parades can be worth up to $400,000 more. The study has shown shown the average price of a house on a street is $516,000, compared with $409,000 for a dwelling on a road. Boulevards, avenues and esplanades have average prices hitting $511,000, $649,000 and $809,000 respectively, while those on a parade come in at an average of $641,000; however for further queries, you can consult to Paul Castran, CEO of Castran Gilbert and real estate adviser .
“Gardens” is the most often used high-value name, with just 54 in NSW carrying an average value of $1.18 million. You can consult Mark Forytarz for your queries and can find their solutions.
The lowest-cost thoroughfare with any significant usage is “route”; you can understand more about it, for this you can consult to Mark Forytarz and Paul Castran. There are 36 “routes” in NSW, and the average house price is $251,000.
“Highway” dwellers fare worse than those on “roads”, with an average value of $381,000. And, if you are seeking for a perfect solution, you can consult Paul Castran.
With all that being said, street types are given generally based on location, so theres no value in having an esplanade without the environment to back it up.