28 January 2021
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How does your street number affect your home value?

The science to your address

Greville Pabst
7 August 2018

Purchasing a property is one of the largest financial decisions many people will do in their lives. You would therefore think that buyers would have a rational approach when choosing a property to buy, but in some cases, pre-existing beliefs can influence consumer psychology and decision-making processes, which may not always be for the better. Particularly when it comes to superstitious beliefs and their impact on property purchases.

Superstition is something that most of us are familiar with. Whether we consciously attribute significance to it is arguable, but it’s not uncommon to “knock on wood” and avoid black cats or walking under ladders to safeguard against jinxing oneself.

In America, each time Friday 13th occurs, the US economy sustains a loss of an estimated $850 million, as people on this day avoid marrying, travelling and even working. Our superstitious belief of the number 13, among others, has historically seen many high-rise buildings skip or rename the 13th floor, or use it as a plant room. Even at some airports and hospitals there is an absence of gates and rooms with the number 13.

When it comes to buying property, many real estate agents claim that buyers from some Asian cultures, in particular, won’t even consider a home if the street number doesn’t stack up, and in some cases will pay a premium for those that do - with 4 and 14 considered among the unluckiest and 8 and 9 the luckiest.

Some buyers may be put off purchasing a property with a certain street number, but it doesn’t reflect the property’s value and potential performance and should therefore not be the main factor when choosing a property to buy. If you’re not a superstitious person, homes with certain numbers could in fact benefit you as a buyer, as the competition might be slightly lower.

A property’s value is typically impacted by location, land size, building improvements (the type, size and condition of the dwelling), orientation and aspect, with no widely evidence to support the claims that a property’s street number has a bearing on its value. 

www.propertyduo.com.au

www.wbpgroup.com.au

 

 

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