Watch the video below, or read the blog post

7 Unusual Things That Affect The Value of Your Property (#3 Will Surprise You)

In your opinion, what impacts property prices the most?

You’d be spot on if you said location….but are you aware that there are a number of other factors which is mainly outside of your control that could also affect the value of your property? 

Hi my name is Zulika. An Heerden. And In this video I’ll go over a few which may surprise you.

1) Stock levels

The amount of stock or available homes is a calculation of how long it will take for the current inventory of homes to sell out. For example, if 100 homes sell each month and there are 300 homes available for sale, that translates to a 3-month supply of stock.

Markets with only 3 months of supply suggest that stock levels are low and that there are more buyers than available homes. Low supply and high demand leads to higher property prices. High supply and low demand have the opposite effect.

2) Interest rates

The lower interest rates go, the more buyers there are who can afford to buy a house. As more buyers come into the market, inventory falls. And as inventory falls, home values rise.

 3) Street names

Believe it or not, but even the name of your street can impact the value of your home. According to a study by US property listings site – Trulia – “boulevard” is the priciest and as you can see here, followed by “Place”, “Road”, “Terrace” , “Court” all the way down to “Street”.

Now according to Trulia a home’s address suffix can mean a 36% difference in its asking price but I would not read too much into this data though. 

In real life, buyers aren’t likely to pay that much attention to street names. Far more likely, they pay attention to what those street names reflect.

A name that reflects an “aspirational lifestyle” feature such as “Beach Road” has more value than “Street” because, chances are, the house close is somewhere close to the beach – and – as well all know properties that are closer to the ocean consistently sell at a higher price.

4) House numbers

And again believe it or not but according to various studies even and odd numbers get different prices among superstitious people. 

The number 13 isn’t only unlucky on Fridays. 

If you own property with the number 13 in the address, you could struggle to sell your property for the full asking price.

Although unlucky for sellers, the number 13 could be a lucky number for buyers who  – like me – are not superstitious and looking for a good deal.