What adds $100k of value to a home? From pools to granny flats — this is what Australian homebuyers want
What features do Australian buyers seek in a home? We reveal the top 20 things that people want, including one coveted item that could add $100,000 or more of value to a house.
Star home features like swimming pools, studies and sheds are not only making a splash with buyers across Australia, but experts have said they can often add up to $100,000 in value to a property.
Pools topped the search terms Aussies keyed in at realestate.com.au in recent years, with garages, courtyards and balconies also hot stuff on the list compiled by PropTrack.
But the rising cost of living is weighing on buyers’ minds as “mortgagee” – when someone defaults on home loan repayments, resulting in the bank selling their residence – entered the list in last year, after not appearing in the 20 most-searched for words of 2022.
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PropTrack economist Anne Flaherty said there “is a cohort of people looking to find a bargain” after the Reserve Bank of Australia lifted interest rates 13 times since May 2022, reducing many buyers’ borrowing capacity.
“Granny flat” is another new addition after the state government last year removed the need for a planning permit to install a small second dwelling of up to 60sq m at most home sites.
“I think it is very much the case with granny flats that maybe parents think their child will struggle to get into the rental market or buy a house,” Ms Flaherty said.
“We will see kids stay at home longer as the rental crisis continues.”
Outdoor areas and courtyards remain in demand after spiking in popularity during the Covid pandemic, she added.
Advantage Property Consulting director and buyers advocate Frank Valentic, who often appears bidding on behalf of clients on television show The Block, said families frequently wanted houses with a large back yard, second living area, double garage and pool.
“I think now many people are not going away due to high travel costs and the high cost of living,” Mr Valentic said.
“People say they would rather a house with a pool so they can have a bit of a holiday at home.
“It can add tens of thousands of dollars in value and probably over $100,000 for a decent-sized pool.”
Mr Valentic said this was because installing a pool could sometimes cost $120,000 and up to $200,000 once landscaping, tiling and solar panels were added.
He also described studies and home offices as like “gold”, as the working from home trend continues.
Buxton Sandringham director Romana Altman said high ceilings, plenty of storage space, roomy living areas and well-designed kitchens and bathrooms were habitually favoured by buyers.
“Post-Covid, a study is also a massive plus,” Ms Altman said.
“So are spacious and well-proportioned bedrooms, as often they are used as studies if there isn’t already one.”
With “beach” a popular search term at realestate.com.au, Ms Altman – who works in a coastal region – added that “the values of a property increase the closer it is to the water”.
In Melbourne’s west, Michael Wursthorn and his wife were selling their four-bedroom house in 2023, featuring a pool at 10 Wiltshire Boulevard, Thornhill Park.
Mr Wursthorn described his family, including two children aged seven and 13, as “water people”.
“The kids, they love the pool, they love to run amok, do dive bombs and get all the inflatable toys and floaties out,” he said.
Keen swimmer Lorraine Webster describes her Beaumaris house’s pool as a “peaceful sanctuary”.
Five years ago when the mother-of-two built her home at 21 Scott St, she was able to fulfil a childhood ambition to have a heated lap pool.
“It was my dream forever and I wanted it to go under the house, so part of the pool is undercover,” Ms Webster.
She requested pool builder Albatross to include two shallow ends and a deeper 1.8m middle section so she could tread water.
“It is pretty to look at and very calming,” she added.
Ms Webster, who is moving interstate to be closer to family, said her daughters and grandson enjoyed swimming in the pool when they visited.
The three-bedroom house, which also has a garage and study, sold in March for $2.5m.
Homebuyers most-searched terms, 2023:
1. swimming pool
2. garage
3. courtyard
4. balcony
5. study
6. outdoor area
7. shed
8. warehouse
9. mortgagee
10. unit
11. beach
12. ensuite
13. art deco
14. view
15. double storey
16. granny flat
17. church
18. ground floor
19. tennis court
20. airconditioning
Source: PropTrack
Australian homebuyers most-searched terms, 2023:
swimming pool
garage
airconditioning
outdoor area
balcony
pet friendly
waterfront
ensuite
granny flat
study
beach
furnished
duplex
mortgagee
built-in robes
beachfront
views
water views
dishwasher
water
Source: PropTrack
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