Properties with direct parkland views fetch higher house prices: Secret Agent
Properties with direct parkland views as well as in close proximity to parks are top performers compared to other properties in a given suburb, according to a report by buyer's advocates, Secret Agent.
The report, which surveyed 30 suburbs in inner Melbourne, found that parkland properties in general fetch stronger prices.
Conversely, properties that are close to parks but don't have a view do not perform as well as those with a direct view.
According to the Secret Agent report, the average sales price of park houses (houses opposite or facing parks, or in extremely close proximity) in Fitzroy North (Edinburgh Gardens) from 2009-2012 was $1,781,833.
In comparison, the average sales price of non-park houses was $969,749 while the average sales price in the whole suburb was $991,491 in the same period.
Similarly, the average sales price of park houses in Albert Park (St Vincent Gardens) from 2009-2012 reached $3,198,571. In comparison, the average sales price of non-park houses was $1,289,796 while the average sales price in the whole suburb was $1,339,183.
A three-bedroom house (pictured below) on St Vincent's Place will go to auction on April 20.
Source: Secret Agent
Secret Agent’s analysis of properties within 200 metres of St Vincent Gardens in Albert Park found that properties on St Vincent Place were at least double the value of their parallel counterparts.