What's a view worth?

How do you like it in Woronora?

 

I haven't travelled the world but one of the best views that I would pay money for was in Indonesia in ubud. Resort on a cliff with infinity pool out over the jungle.
Birds signing and monkeys playing in the tree whilst sipping a bintang was pretty awesome.

As I said in my original post, a view over nature I definitely understand. A view out to or over a city though, in the words of Shania Twain "that don't impress me much".

 

It is really hard to answer this question as the views change so much and it is also the scarcity of the view. If the suburb is sloping so a lot of houses enjoy the view then the view is worth less. If however only 5 houses get a view then those 5 are worth more. 10% is a good number if you are looking for a number.

 

It was a pretty general response and it could be wrong in over a thousand different ways and situations. However I have found that scarcity often creates a premium.

 

It gets cold down there, can't see the bridge sometimes
Am up a little higher, Sutho is a great little area
(Just waiting for the shopping precinct to go...)

 

I was pondering this question a few days ago...How much is a water view worth.
Say for instance this one below that sold for $2.29mil on the weekend.

20/29 Bennelong Parkway, Wentworth Point, NSW 2127 - Property Details

It's not exactly the best 'harbour views' going around..more like parramatta river views. Anyone have an opinion on what the exact same unit but facing the other way would be worth?..still lovely views over the Sydney Olympic Park and water views over to Rhodes...just not 'gun barrel' views down the river

 

We had a 9th floor apartment overlooking the Southport Marina. We spent more time on that balcony than inside any house we'd had before, or since.

My forever city house has a city view. All other things being equal, it would probably add 300k to my house I'm guessing.

 

Personally for me, i don't care about a view or not. Probably nice if you have one, but it's one of many things that i simply don't have any desire of seeking out. Then again, there's lots of things i have no desire to do/see, like concerts, movies and theatre. Hell i don't even have a picture on my walls because i can't be bothered trying to work out how to hang one because the house is without picture rails!!

I will say though, that place owned by the former bishop of Ballarat Robert Mulkhearns, it sold for $2.1M as it was perched high atop the beach overlooking Bass Strait in Fairhaven. In 1985, that place sold for $55K....probably approximating the cost of my parent's place in Newcomb at the same time. My parent's house now? Probably low $300K's. So arguably the view for the Mulkhearns house, given infrastructure-wise it's near no major city and has little in the way of shops etc near it, is about 700%!!!

 

I think a view is like art, very much comes down to personal preference. As for how much it adds probably depends how much deeper you'll dig than the next person but it does ask for a premium.

I'd love a place with views, of anything really because it connects you with outside. I can see how a view can be overlooked in daily life seeing it each day or not seeing it, but having one is better than not having one imo. It gives you a real life picture to look at and watch change with the weather and seasons etc

 

I love a view - water, city, bush, I really love them all. (Hmmm... In my various properties I have all these!)

Alternatively, a view out to a nice neighbourhood streetscape is fine. Leafy green street with good looking homes gets a thumbs up.

What's not good is an outlook out the front of your home directly to a building blocking your immediate view. I saw this in a Redfern terrace... it was all good and worthy of consideration except for this building directly in front blocking the view.

Also its a big turnoff in houses where most of the bedrooms have windows that only have a view to the next building. I have rejected many properties because of this. I mostly encountered this in the Inner West Sydney.

Finally.... when your looking for an investment or home but when you are there your eyes just get drawn to a big structure resembling industrial activity.

Avoid.

 

Is it always bad? World's biggest alumina refinery doesn't look to bad at sunrise

Or China coming in to refill their gas bottles

 

With water... and in the far distance... no worries fine. I have that in Brisbane. Nice thing to see in the horizon. Maybe I should have worded it a bit differently but you get what I mean.

But its not ok when its an imposing structure like a huge building on your fenceline right outside your backyard! (agents always conveniently leave these features out of the photos)

**tried to google some shocking views and vistas of something a bit industrial... hard to do... why is it only nice things come up dammit!
Here's my best effort...

 

Just to clarify, my actual question in the topic is rhetorical. I'm not looking for an actual figure or percentage because clearly that is impossible with endless variables. It was more just to get a discussion going.

As I said I do respect a view but I just don't see the ridiculous values they add.
If you gave me two similar properties in the same suburb. One had amazing views out to the city and the other no views, the difference in price 100k it would be a no brainer for me.

I would much rather take the 100k and invest it into a killer outdoor entertaining area. Landscape an amazing garden, beautiful verandah with kitchen and fireplace and probably still have change.
To me that would be so much more valuable but yet people still pay $$$$$ for the privilege of a view.

 

I'd rather take the one with the view. You can always retrospectively add the outdoor area later on the one with a good view once you have more funds and then it will be even more desirable to the folks with money... then again on a Sydney home 100k isnt much. Again with beach suburbs too... I think buy the location. Upgrade the house later.

 

That is not what i meant though. My point was just comparing the same price point.
With one property you get an amazing view of the city and a basic outdoor area to enjoy it.
The other you get no view but an amazing outdoor area to enjoy.

I would take the amazing outdoor area every time. Me personally would get so much more from it, you can actually interact with it. A view of the CBD IMO is a novelty that soon wears off.

 

I'm talking buying on the same budget too. 500k, buy near beach.
500k, better house, better outdoor area?

I'd buy the potential.

Horses for courses. If you later come into money and can improve the one with the added bonus of the view.....

 

I rent my view. N E and W view. City to blue mountains from 17th floor. At 690 a week its a bargain.

 

Good & scarce views definitely add to the value, and are a sustainable premium.

I believe views are worth more of a premium in units than houses. The reason being views come with openness and a feeling of space, which tends to be less of an issue in houses which are less claustrophobic.