Login
Bedroom, parking, bathroom: The amenities that add 6 figures to property prices
Properties with extra bedrooms, bathrooms, or car spaces have been delivering six-figure price uplifts for investors, as high-value amenities continue to drive stronger prices nationwide.
The latest research from HTaG Analytics found that the value added by an extra bedroom varies nationally, ranging from less than $50,000 to over $200,000, depending on location, configuration, and dwelling type.
According to the data, the transition from a four-bedroom to a five-bedroom property in Greater Sydney is associated with an average premium of $207,938.
Brisbane follows a similar trend to Sydney, with the largest change in value occurring between four and five-bedroom properties, averaging $153,243.
In Melbourne, the most significant value uplift is in smaller properties, with the jump from the three-bedroom to four-bedroom range adding a premium of more than $215,000.
HTaG co-founder Alex Fedoseev said that the notion that an extra bedroom has a fixed value does not align with the data.
“These results make it very clear that bedroom value is not linear and it is not universal,” Fedoseev said.
Additionally, the research found that the added value of a parking space varied by market, with a parking space in Greater Melbourne adding around $80,000 in value to a property.
A parking space in Greater Sydney can bring about a premium of $63,000, with buyers prioritising the amenity.
Fedoseev said that parking premiums were driving up prices in inner-city terraces, villas, and townhouses, where off-street parking is scarce and highly valued.
“In some locations, parking can almost be as valuable as an extra bedroom,” he said.
“If you are adjusting a comparable in an inner-city market and you ignore parking or treat it as a minor feature, you can materially misprice the property.”
When considering extra bathrooms, regional NSW and Victoria record some of the highest bathroom values nationally, adding at least $60,000 to a property’s value.
Fedoseev said that this reflects the importance non-metro markets place on extra bathrooms and en-suites.
“Properties with extra bathrooms tend to have better finishes, better layouts and better overall presentation,” he said.
“The data captures that reality, which is why agents still need to apply judgment around quality when using these adjustments.”
The research found that the type of dwelling significantly affected the value each amenity added, with buyers in each market having different preferences.
In unit markets, bedroom premiums have generally been lower, while parking has often been prioritised, while in townhouses and detached dwellings, premiums have been associated with extra bedrooms.
During the valuation process, Fedoseev said agents should not assume an amenity adds a fixed value in any setting and should treat each property on a case-by-case basis.
“The value of a bedroom in a detached house, a townhouse and an apartment are three very different things, even within the same city,” Fedoseev concluded.