Just wondering – if comparing between 2 houses, all else equal except one being on a main road and one being on a quiet normal street, what sort of discount is fair for the house on the main road? The city is Sydney if that matters.
What would be the approximate ballpark? 5%? 10%?
Hi Echelon6,
I dont have the answer to your question, but i'd be interested to hear what other people have to say. I looked at a unit yestruday and it had perfect everythign except it was on a busy street and quite noisey. I mentioned it to the agent and she tried explaining to me it 'wasnt that bad' and as she was saying it an ambulance with sirens went past and she had to yell!
I am reminded of a house I looked at recently, which backed onto a busy road.
Great price, great house. But when standing in the backyard, the noise was unbearable.I would not live there, and if alot of other people share my view, If the discount isn't 30% or greater I would avoid.
Especially if it fronts onto the busy road. The tenant turnaround would be a headache.It depends and it is also very subjective. A well designed house, having its living areas facing away from the street noise will be much more appealing than one with its bedrooms/lounge/study facing bearing the brunt of noise from the main street.
I would say that a 5-10% price difference between a quiet street vs busier street however there are many factors weighing into the equation. Eg: location – is the main drag more convenient to shops, schools, transport etc? Is one side of the road 'better' than the other ie city bound vs outward bound? How busy a street eg: Pacific Hwy vs Eastern Arterial Rd? One carries a lot more traffic but both go through the same suburb. Land size, orientation, slope etc.
Thanks for the replies
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