A glimpse of water from Remuera can slap a further 130 per cent on a house price while at Takapuna, seeing the glittering Waitemata can add 125 per cent to the price. An in-depth analysis of water view effects on house prices by property research and data company homes.co.nz has quantified for the first time precisely how much those precious, much-loved vistas inflate our house prices.
Here's what a sea view adds to an Auckland property: source: homes.co.nz
Across the board, water views add a further 48 per cent to Auckland house prices - adding up to a median house price of $1.37 million. That compares to a median of just $928,200 for places without water views. See a wider summary of the data here:
The data has been released around the same time as a Tauranga agent was found guilty of misconduct for selling a house with sea views when she knew of a neighbouring development rising next door. Licensed LJ Hooker agent Tanya Dunham, of Tauranga, is to face a penalty hearing on Monday with the Real Estate Disciplinary Tribunal.
A couple who bought a house based on its stunning sea views were shocked when they found out neighbours were building a two-storey unit which would partially block the view. Dunham was selling her parent's house in Tauranga to the couple. Jeremy O'Hanlon, chief marketing officer at homes.co.nz which gives property insights, said certain Auckland suburbs commanded an extreme premium for views. "Water view houses in Remuera, Takapuna, Mission Bay and Freemans Bay have median values that are more than double those with no view," he said. Other areas where water views make a huge difference to price are Parnell, Howick, Otahuhu, the eastern beaches areas, Herne Bay, Te Atatu Peninsula, St Heliers, Milford and Birkenhead. O'Hanlon released exclusively to the Herald an interactive chart showing the suburbs where water views matter most. Remuera topped that chart. At the bottom was Okura where a water view doesn't add a premium, along with Waiake and Huia. The chart also showed the effect of views other than those of the water and how that can also add a premium of nearly 20 per cent to a house. But water views are the real stand-out performers, O'Hanlon said.
What does a sea view add to a house in these neighbourhoods? source: homes.co.nz