Australian property located on streets or avenues is likely to be worth more than those on roads, research from Residex has revealed.
Residex's managing director John Edwards told API magazine that a house situated on a street could be worth $100,000 (£57,190) more than a similar home positioned on a road.
Houses with 'avenue', 'esplanade' or 'parade' in their addresses will fetch even more money, as these words suggest that the property is in a quieter location.
"All the names are chosen, most often, to reflect the nature of the thoroughfare," the magazine reports Mr Edwards as saying.
The most expensive homes tend to have 'gardens' or 'steps' in their address, the expert added.
Residex's research, which came up with the above conclusions, was carried out in New South Wales.
Last week, the magazine reported on research by PRDnationwide, which suggested that the New South Wales property market was showing signs of a price recovery.
Posted by Craig Francis
