We’ve always known the importance of good natural light. Apart from the benefits of vitamin D on health, natural light just feels good. It helps make a home “feel good”. Natural light is instinctive to human nature, and the importance of natural light during winter comes at a premium – especially when one is trying to buy their home.
At Secret Agent, we’ve researched to determine whether a clear correlation could be established between average/median house prices and the orientation of the backyard. Our first hunch was that North facing backyards would yield higher prices. This is because a north facing backyard is generally the ideal orientation to capture full light. We have based our data on the quarter from 1st April to 30th June and have used Brunswick, Richmond and Hawthorn to help validate our hypothesis.
These suburbs proved to be excellent samples as they fulfilled the following criteria:
- High turnover rate for the suburb.
- Comprised mostly of consistent home type sales (Period Homes)
- Located in the inner city.
In Hawthorn, West facing backyards had the highest selling prices followed closely by the North. The full Hawthorn statistics are to be released in Secret Agent’s upcoming “The Secret Agent Report” – our research guide. This report will have a Natural light index depending on the orientation of the property.
In both Brunswick and Richmond, backyards which have a North facing orientation had the highest average prices for the quarter.
Hawthorn had a higher average price for West facing backyards, with the North (backyards) as a very close second.
North facing backyards surprisingly also had the lowest $/sqm average of all orientations in Brunswick. We note that 6 sales changed hands that were located on busier streets which helped pull back the average $/sqm rate. We also noted that the block size (North facing backyards) were larger in general.
Average price for Brunswick: $725,414
North facing backyard average (Brunswick): $858,000
North facing backyards command a premium of 18.3% more
Average Price for Richmond: $951,029
North facing backyard average (Richmond): $1,105,750
North facing backyards cost 16.27% more
We note that suburbs such as Brunswick tend to have larger block sizes with regards to North and South orientations. Furthermore, single fronted sales were more prevalent with either a West or East facing rear orientation.
33 Rosslyn Street West Melbourne.
Big north facing windows allowed this property to have outstanding natural light. Our research suggests that the value in this property is not just about the amount of accommodation, style of property or location; elements such as light also add value to the property.