Strands streets ahead in value

There's good news for homeowners whose address ends in Strand - you're settled in some of New Zealand's most exclusive and expensive properties.

But people living on a Line, Belt or Street own some of the least valuable homes.

Property valuation company QV has ranked homes from most to least valuable, based on the average price for each type of residential address.

Although there are only 160 homes on nine streets ending in Strand, the average value is $1.4 million.

The 133 homes on 15 residential addresses ending in Point have an average value of $1.1m, followed by 1008 homes at 41 Esplanade properties with an average value of $740,785.

QV research director Jonno Ingerson said the data was based on the latest capital values - some of which were three years old.

He grouped the value of every house on each address ending in the same term to work out each average.

The data does not include any street type that occurs fewer than five times or with a total of fewer than 100 houses.

At the bottom of the list of 47 street types was Line, with an average value of $269,119 across 771 houses on 70 streets.

The figure is less than a fifth of the value of properties on a Strand.

Belt has 602 homes on 14 streets at an average value of $300,128.

The third-lowest valued - and most common - address ended in Street, with 334,923 houses on 14,318 averaging a $329,932 value.

A British study showed those lucky enough to have Hill in their address came out on top, followed by Lane, Mews, Park and Green.

Patrick McCarthy, of Browns Sotheby's International Realty based in Auckland's Freemans Bay, believes Avenues and Parades are among the most desirable street names.

"Anywhere with Parade in the name is usually very sought after, mainly because it's usually attached with Marine Parade, so near the water."

McCarthy said unlike in the UK where Roads are less desirable, Auckland has a number with expensive properties.

Jervois Rd, Richmond Rd, Shelly Beach Rd and Ponsonby Rd are all good examples.

Marty Scott, managing director of Harcourts in Wellington, said places such as Oriental Parade and Marine Parade rate highly with buyers.

There doesn't appear to be a clear pattern, but certain names come with particular connotations.

"Road and Drive probably imply traffic volume (to be less desirable) but then you have places like Paritai Drive in Auckland, so there are exceptions," said Scott.

"Avenue and Crescent come across as softer words that imply leafy green suburbs, which are off the main road. Parade often refers to the water's edge."

Bevan Fleming, director of property consultancy Valuation Solutions in Christchurch, said it was hard to know how people choose the street type to live on, but it most likely came down to location.

"No matter what the name of the street, this will ultimately win out."