A while ago Levitt posed the question of whether the name of a street (such as “Pleasant Avenue” or “Massacre Lane”) could have an effect on the price of its real estate. Now, it turns out, there’s more data on the subject: The Edmonton Journal reports that a study by a Canadian real-estate analyst found a “a small but noteworthy negative effect between a badly named street and the perceived market value of the homes or businesses on it.” The data were gathered by Murtaza Haider, a business professor and director of Ryerson University’s Institute of Housing and Mobility, who examined the property values of 300 houses located on or near Toronto’s exclusive Bloor Street. Controlling for size, he found that listing “Bloor” in the physical address boosted the property’s market value by adding a “statistically significant premium.” The article also cites the research compiled by Texas realtors Sylvia and Steve Crossland that Levitt mentioned in his discussion.
Haider’s study leaves at least one question unanswered. While the data may in fact be correct, it doesn’t seem to account for the possibility that a property’s proximity to Bloor Street was simply an indicator of a good neighborhood as signaled by the street name, as opposed to the street name being a per se indicator of higher resale value.
and 
. You can also watch it on 
This is completely unrelated to the question Levitt posed. He wanted to know whether the name itself would affect the real estate price. That the real estate on a “posh” street would cost more is hardly news to anyone.
This is completely unrelated to the question Levitt posed. He wanted to know whether the name itself would affect the real estate price. That the real estate on a “posh” street would cost more is hardly news to anyone.
Hey I live near “Shades of Death” road which is down the road from “Buzzards Glory”. The prices are still outrageous!
Hey I live near “Shades of Death” road which is down the road from “Buzzards Glory”. The prices are still outrageous!
I agree Melly Mel, school system, crime rates, etc. those are the things that weigh heavily and kind of make these findings bunk without them.
I agree Melly Mel, school system, crime rates, etc. those are the things that weigh heavily and kind of make these findings bunk without them.
I am hoping that the interest generated by these studies will invoke someone to do a more nationalized study. I think it would be particularly interesting to see the sale prices of homes that were purchased by “out of towners” who may not give any great weight to being on Bloom St or whatever.
A much wider data sample would help show that even in subdivisions where the environment is absolutely identical, names do (or do not) play a part.
I am hoping that the interest generated by these studies will invoke someone to do a more nationalized study. I think it would be particularly interesting to see the sale prices of homes that were purchased by “out of towners” who may not give any great weight to being on Bloom St or whatever.
A much wider data sample would help show that even in subdivisions where the environment is absolutely identical, names do (or do not) play a part.