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Best and worst performing Street types

An interesting article about street types…..

If you live on a street called The Strand then you’re on a street type that has the highest average house value – over $1.4m.

At the other end of the scale, if your house is on a Line, Belt or Street then your street type is amongst the lowest valued.

QV have taken every street in the country, grouped them according to the street type, then calculated the average capital value of all the houses on those streets.

They have ignored any street type that occurred fewer than 5 times or that had a total of fewer than 100 houses.

The top of the list is The Strand, followed by Point, Esplanade, Bay, View, Parade and Cove.  These suggest locations that are close to the sea (or a lake) or have a view.  Both of these characteristics are likely to lead to higher priced properties.  Likewise for Brae, Oaks and Mile which are the types of name often given to small, new and/or exclusive subdivisions or groups of houses which in general will have higher values.

At the bottom end of the list are two street types that tend to be in more rural areas – Belt and Line.  For this reason they are likely to have lower average values.  Street is third from the bottom and reflects that 31% of all NZ houses are on a Street spread across all locations rather than limited to particular locations.

The next most common street type is Road with 28% of all houses, but it has a significantly higher value than Street.  Together they have nearly 60% of all NZ houses.  The next most common, but a long way further back is Place with just under 9% of all houses.

While there is some relationship between street type and value it is very unlikely that people choose where to live based on whether the house sits on a Parade, a Loop, or a Belt.  Much more important is whether that house has other characteristics desirable to the owner.

Average capital value by street type

Top 10

Street type                 Average value

The strand         1,444,487

Point                  1,151,513

Esplanade          740,785

Bay                    685,065

View                  673,594

Parade               661,750

Cove                  642,852

Brae                   631,671

Oaks                  610,680

Mile                   600,310

Bottom 10

Street type                 Average value

Grove                 411,143

Quay                  408,744

Place                  408,584

Crescent            393,639

Vale                   377,350

Row                   377,054

Valley                361,786

Street                 329,932

Belt                    300,128

Line                    269,119

So there you have it, let’s all hope we live in ‘The Strand’!

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