House prices on streets with silly names are significantly lower than houses on nearby streets, a study by Victorian school students has found. High school girls at Sacred Heart College (SHC) in Geelong, a city in Melbourne, Australia, conducted the research with guidance from the school’s head of science, Adam Cole.
The students identified 27 streets in Victoria with silly names, including Butt Street, Wanke Road and Fanny Street. (American readers: “fanny” has a different meaning in the UK and Australia/NZ than it does in the US!) They found that property prices in streets with silly names were about 20 per cent lower than properties in the normally-named roads. As the report notes, that amounts to a $140,000 saving on a median-priced Melbourne house.
Read this article at ABC News to find out more – and if Australians would take advantage of the savings!