Real estate analysts have been researching the value of water views on property for the past thirty years. The studies run the full range from personal observations and experience to serious academic studies.
“When Australians dream of their ideal home, it usually involves an ocean or harbour view. We all love looking at the water,” said property spokesperson, John McGrath. “It relaxes us, it contributes to the ambiance of our homes and it adds a huge amount of value to the property’s market worth.”
“A great view creates emotion within buyers. They imagine waking up to views of the beach or envisage entertaining on their terrace overlooking the harbour,” he said. “A view is unique – it’s something special that only that property and the ones surrounding it enjoy. And if the buyers love the view, they’re likely to fight for it come auction day.”
“Properties with views generally sell at a premium but you’ll enjoy faster capital growth over the long-term,” said John.
Most of the studies state a water view from a deck or terrace at the rear of the property is the most valuable as it is where we spend most of our leisure time. The view from a bedroom or media room is still positive, but as there is less socializing in these spaces.
“I would agree with the most recent study on water values,” said QM Properties Manager, Damien Ross. “Water, particularly when seen in a view from the living room, kitchen and outdoor dining area of a home, is the most valuable.’’
“Water relaxes us and adds ambiance to family and friends orientated leisure activities,” he said.
QM Properties have wide experience in developments on or near water, including their river front development River Retreat at Karalee in Brisbane’s south west.
According to Damien, River Retreat always had the potential for sales success not only for the water factor but also the peace and quiet element.
“There is only one way to drive in or out of River Retreat so there is no traffic other than locals and their guests,” said Damien. “The buyers there are also motivated to secure large blocks so they can build high value homes with big views.’’
“The allotments in River Retreat are all above the Q100 flood level and all the blocks are elevated,” he said.
QM Properties’ strict covenant rules on River Retreat appeals to this niche in the market, mainly consisting of professionals and business people upgrading from Ipswich or Springfield.
River Retreat has enjoyed strong sales due to its unique position in the market as the ‘top end’ for the rapidly growing and vibrant Ipswich economy.
Builders, Michael and Dino Garbuio, have constructed a quarter of the homes in River Retreat adding up to over 16 cutting edge designer homes.
“We have found that our clients wanted to build larger, more high-spec homes on the river and on large blocks of land,” said Michael.
“If you can’t afford a view right now, you may want to consider other suburbs in your city where a view might be more affordable,” said John McGrath.
“The land at River Retreat is entry price river view land, certainly the most affordable around Brisbane, so they invest the dollars saved into the house,” said Damien Ross.
Most blocks are near level or gently undulating and many have captivating mountain views to Mt Coot-tha and the D’ Águilar Ranges for their elevated building sites.
Dino’s company, G & P Homes has been constructing single level modern homestead styles with wide decks opening from the living and dining zones to blur the interior and exterior, making the most of the views.
As the land has 40-50 metre frontages, the 400 square metre homes easily fit with plenty of room for large gardens, cabanas, storage and pools.
The land options suit buyers choosing to retreat to a more upmarket, riverfront lifestyle while avoiding the large price tag normally associated with waterfront property.
“Some of the homes we have built are now valued at over one million,” Damien said.
“The proximity to the CBD of Ipswich and Brisbane is also a positive for buyers, especially this size of block with its flood free provenance.”
Despite being only 10 minutes from Ipswich and 35 minutes from the Brisbane CBD, River Retreat offers a rural lifestyle that is increasingly rare.
“There are only a few blocks left with water views,” said Damien.
“We have been looking for more waterfront land, but it’s just about all gone now.’’
“River Retreat will be the new dress circle suburb for Ipswich in the near future.”