The Simple Tip That Will Help You Find A Cheaper House
Sometimes we have a specific dream of what our future house will look like: A beautiful garden, large bedrooms, spacious entertaining area, but most importantly, it's all about location, location, location.
But in today's economy, our dream home can sometimes be seriously out of reach with most of us struggling to afford a house deposit for an apartment in our suburb of choice.
Well luckily, we have heard of a simple tip that could help you find the most affordable houses without having to compromise on the area.
According to a study conducted by a group of high school students from Sacred Heart College in Geelong, houses will have a lower purchase price if they are located on a street with a silly, obscure or slightly inappropriate name.
And it's not just by a minuscule margin. Apparently, the prices on streets with names like Butt Street, Wanke Road and Fanny Street (yep these are actual places in Victoria) are significantly lower than houses on nearby streets.
"We looked at them [the streets] on Google Maps and found two adjacent streets with relatively normal names," said Dr Adam Cole, the school's head of science.
Dr Cole and his students also worked with staff from the Australian Bureau of Statistics, the University of Sydney and a Melbourne real estate agent to analyse the sales of houses over the past 47 years.
The results of their study showed that house prices on streets with whacky names were 20
And the reason why? Apparently, most prospective buyers
"We think that there is a proportion of people that would not be comfortable living in those streets, so they don't complete for those properties and that would drive prices down," said Dr Cole.
But their loss is our gain! That is if you're not one of the people who mind living on one of these streets. Really, we think it's
So if you're on the hunt for the perfect household but are looking for a cheaper option, keep your eyes peeled for streets in the real