We’re not sure of the science, but Property Update has attempted to put a figure on it. Depending on whether you’ve got a quaint garden outlook or a Sydney Harbour vista you could be talking a price premium of anywhere from 3 per cent to 80 per cent.
That’s a pretty wild ranging guestimate, we agree. Here’s how they break it down:
- Ground level, unobstructed view, 3% to 5%
- Rooftop, partially obstructed view, 6% to 8%
- Medium elevation, unobstructed view, 9% to 12%
- High elevation, unobstructed view, 15% to 25%
- Unobstructed water view, 30% to 80%
So you can see it’s not just the view, but the height that matters, and there’s a different between a partial or full view.
But then there’s the matter of what your viewing. A large body of water is a price lifter, and salt water commands a higher premium than the fresh variety.
So a view of Sydney Harbour will cost you more than a view of Wivenhoe Dam. Of course.
The data, we think, is interesting but probably a touch difficult to apply with any degree of reliability.
What you can be more certain about is that maximising any view will help you spark buyer interest and that’s the key to achieving a strong sale price.
So if you want to maximise your assets, take a look at a few tips from Houzz on how to make the most of your view.
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