The debate of whether or not millennials will ever be able to buy a house continues to rage on, and it continues to look less and less likely that our generation is ever going to have a cheeky $100k saved up for a lovely home in a leafy green suburb.
Well, there might just be a way to find a house that’s lovely but also doesn’t cripple you financially as well. High school girls at Sacred Heart College in Victoria have conducted research that found house prices on streets with rude names were much cheaper than surrounding areas.
Students found 27 streets in Victoria with silly names, including Butt Street, Wanke Road and Fanny Street. “We looked at them on Google Maps and found two adjacent streets with relatively normal names,” Dr Cole told ABC Radio Melbourne’s Jon Faine.
They then analysed housing sales on those streets for the last 47 years and found that property prices were about 20% lower for houses on funnily names roads as opposed to those with more common names.
As you’d expect, this stems from the fact that the majority of people aren’t trying to start a family or live in their dream house on a road called Wanke.
“We think that there is a proportion of people that would not be comfortable living in those streets, so they don’t compete for those properties and that would drive prices down,” said Dr Cole.
I mean, fair enough, but I don’t think I could pass up an opportunity to live on Willy Road.
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