Street Name Uniqueness Increases Housing Prices by 1.6%
Street Name Fluency and Housing Prices
Tags: CUHK Business School, Hong Kong, Construction & Smart Cities, Computing Technology
This study investigates how the fluency and uniqueness of street names influence housing prices in Sydney, Australia. It finds that homes on streets with longer or unique names sell for higher prices, with premium values of up to 1.6% for unique names. Non-English speakers and buyers of luxury homes show a preference for less fluent, rarer street names, while new developments favor fluent, royal, or popular names. These findings suggest that name fluency affects investment decisions in special occasion goods like real estate. Applications include real estate pricing strategies and urban development planning.
IP Type or Form Factor: Discovery & Research
TRL: 3 - proof of concept with needs validated
Industry or Tech Area: Smart Cities & Urban Planning; Big Data Analytics & Simulations
