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When considering buying a property in Australia, one word gets thrown around more than anything else: location. Where a house is located can make a big difference to its value both now and in the future. But what does “location” really mean? This article breaks down what makes some street locations better than others and how that impacts property value.
Not all streets are created equal. Some street types are universally more desirable, and they come with built-in advantages that can boost the value of the homes on them.
Courts and Cul-de-sacs
These types of streets are particularly appealing to families. The fact that they don’t connect to other streets means there’s almost no through-traffic. As a parent, you can let your kids play outside without worrying about cars speeding past, and that kind of peace of mind is extremely valuable. Many families specifically seek out properties on these types of streets, which naturally increases demand and, in turn, the value of homes located there.
Tree-lined Streets
Homes on tree-lined streets can be worth more than those on streets without them. It’s partly the aesthetic appeal, but also the way trees create shade, improve air quality and give a sense of well-maintained surroundings.
When you think of prime real estate, corner blocks often come to mind. They come with plenty of perks that can add value to your property.
Subdivision Potential
Corner blocks often come with the possibility of being subdivided, meaning you can potentially split the land and build another home. If you’re buying with an eye on future investments – particularly in cities like Melbourne where space is limited – having the ability to subdivide can greatly boost the property value.
Curbside Appeal and Flexibility
With two street-facing sides, a corner block is more visible, which can significantly improve its curbside appeal. You also have more design options when it comes to the placement of your home, and that flexibility can be attractive to buyers when it comes time to sell.
More Privacy and Light
Corner blocks also tend to be more private, as they have fewer immediate neighbours. Plus, with two sides of the house exposed to the street, you’ll get more natural light flowing into your home, which is always a bonus. Buyers love bright, airy spaces, and this kind of natural advantage can boost the value of your property.
North-facing Properties
In Australia, north-facing properties are highly desirable because they get more sunlight, especially in winter. According to realestate.com.au, homes that face north can be worth up to 25% more than those that don’t.
Quiet Streets
Properties on quiet streets, away from heavy traffic, railways, or flight paths, are more desirable and therefore more valuable. Home buyers value peace and quiet, and that can translate into a higher selling price.
When you’re looking at potential homes, don’t just focus on the house itself – where it’s located on the street can make a huge difference. Here are some simple tips to keep in mind.
Choosing the right street for your next property purchase is a big decision, and there are plenty of factors to consider. Settled’s experienced conveyancers are here to help you make the most informed choice. Here’s how we can support you:
Let Settled’s experts guide you through the property-buying process with confidence. Contact us today to get the professional support you need to secure the perfect location for your next home or investment.
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