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Property News

A nice lawn dramatically increases Australian property value

February 15, 2012

When Australians consider buying residential property, there are many factors that come in to play. Budget, location and size are all very important concerns to the average buyer.

Most real-estate hunters also have a list of "must-have" and "nice-to-have" features they aim to negotiate when shopping for an ideal place to live.

Features that could be considered "extras" like swimming pools, hot tubs and three-car garages often drive up the cost of a house, but what about a yard?    

Recent findings from the national survey of residential real estate agents indicate how important a lawn is to potential buyers - and how much they are willing to pay for it.

Having a nice lawn to go with your property adds an average of $75,668 to the value of your home in Australia, varying state by state. Victoria puts the highest worth into having a nice lawn, adding 19 per cent to a home.

80 per cent of those surveyed stated that they would prefer a lawn that was at least 30 per cent of their total property size.

The desires ranged from having a safe playing area for children (73 per cent) to having a nice look and feel for the property (one-third of respondents).



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