same street different suburb pricing

just want some opinions.
for example, there are 2 properties. exact same lot size and build quality on the same street.
House 1 falls under suburb A with median 750k
house 2 falls under Surburb B with median 850k

Would being in a different suburb make a difference in price of the 2 houses?

 

Yes absolutely.

 

I agree with Propertunity. Also, I don't think the median suburb price would have much to do with things either.

 

Depends on how long the street is and what the suburb reputations are like

 

Could be influenced by school catchment areas and general desirability?

 

Yes but as always it depends. Above comments are true but my 2c... Does Suburb A have a lower median generally because it is less desirable or because it has more smaller homes or because it has a particular pocket (nowhere near the street for example) of cheaper or worse homes. A good valuer would ask those questions prior to slapping a number down.

 

Thanks for the responses so far.

Ill be a little more specific.
House 1 and 2 are approx 200m away from each other. As mentioned earlier only 1 street separate the 2 into diff suburbs. All things same including school catchments.

My thoughts were just by having a better suburb prefix prices should be better. But on the other hand.... they are STILL in the same street.

To those that have answered already, how much premium can we expect? Significant or just negligible?

Also in response to question why there is a median difference, the lower median suburb has more townhouse and smaller blocks. The higher median suburb has quite a few million dollar homes further in.

 

You're pretty much just talking about the normal valuation assessment of property factors being similar, superior or inferior between different comparable properties. I'm not sure if you're looking for some sort of easy rule of thumb, but it doesn't exist. Such is the nature of property valuation.

See above.

 

Yep, I've lived in a street that had the same issue and it definitely made a difference. People search online by suburb, not street,

 

Just get the name of the cheaper suburb changed.... "Harbord" was renamed "Freshwater". Boom!

 

Our neighbours directly next door on the same street is actually in a different suburb. Obviously depends on the suburbs but when we were looking at it we put a 5-10% premium on the better postcode even if land and house size identical.

 

Thanks for sharing. Your situation is what i am thinking of more or less

 

It's generally more of an emotional thing that goes with the suburb name and quite hard to pin a value onto.
People in Westminster will tell you that it's better than Balga. People in Mt Lawley will tell you it's better than North Perth but there are streets that cross both.

 

Even the same house in a more/less desirable part of a suburb will have a price difference. Eg in Adelaide, houses in Northfield north of Grand Junction Rd have a 50k lower price than Northfield south of GJR. Edwardstown is another good example