The street names that boast the highest prices

PHOTO: Street names with a reference to the beach or a promise of a view can lift the median house price.

Grandview…The Esplanade…The Avenue…some street names just have a nice ring to them. And according to Ray White Chief Economist Nerida Conisbee, they command a higher price tag as a result.

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Ms Conisbee and the Ray White team recently conducted research on the street names with the highest median house prices over the past 12 months, along with those that are the lowest.

“If you are living on Grandview, you would assume, rightly as it turns out, that your home is more expensive than if you were living on Main Road,” she said.So which names are more likely to result in a higher return?“Like a game of Monopoly, it turns out that some street names command a higher price than others.”

“Adding the word ‘the’ to a street name seems to be one sure way to raise the median price,” Ms Conisbee revealed.

“Looking at the top 10 most expensive street names, The Esplanade and The Avenue both make the list.

“The promise of a view is also a way to get prices up – Grandview and Seaview provide on average around a 60 per cent premium to Australia’s median house price.”

Australia’s love of the beach is also reflected in the streets with higher median house prices, with Beach and Ocean making the top list.

“Conversely, while a nearby train line or a major road network is convenient, living on Railway Road pushes down the median. Similarly, Main Road is also on the most affordable list,” Ms Conisbee said.