Why wellness spaces are the new essential for high-end buyers
Few would deny the appeal of strolling into the backyard on a warm summer afternoon for a refreshing dip in a plunge pool or retreating to the outdoor infra-red sauna for a 30-minute sweat session after a busy day at work.
This year on The Block, the newly renovated Phillip Island holiday homes all boast private in-ground pools in addition to a communal “wellness space”, a sure sign the health-conscious shift in mainstream society is now reflected in the homes we want to live in.
From high-end resorts to high-end properties, luxe amenities and facilities are making their way to the top of buyers’ wish lists and significantly enhancing property values.
In the coastal market of Byron Bay, Sotheby’s International director, Will Phillips, is meeting with an increasing number of fitness-focused buyers seeking ice baths, saunas and home gyms.
“People will look at a property and if it doesn’t have those attributes, they will want to include them and if they can’t fit them in, they’ll look at another property.”
In the recent sale of a five-bedroom hinterland estate in Talofa, the inclusion of such features not only added to its value but sealed the deal for the buyer.
“That had a custom-built Swedish sauna, a designated ice bath area next to it and a home gym. And that was one of the key things that drew the buyer to it.”
“The buyer is time poor and wants to use it as a holiday home. When they come here they don’t want to be driving around going to gyms. They want it all in the one spot.”
On Victoria’s Mornington Peninsula, the enormous appeal of resort-style amenities is exemplified in the gap between the sale prices of two prestige properties on the same street in Mount Martha.
Set on 2600 square metres, a four-bedroom, three-bathroom home of breathtaking scale at 26-28 Irvine Avenue sold late last year for $4,925,000.
Down the road, the Adrian Kucyk-designed estate at 2-4 Irvine Avenue changed hands for $9.5 million. Granted, the latter was set on a larger parcel of land and boasted five bedrooms and five bathrooms, but Danckert Real Estate’s Sam Danckert is sure the home’s long list of “extra features” – large pool, al fresco pavilion, wood-fired pizza oven, outdoor fire pit, basketball half-court and home gym – absolutely influenced its sale price.
In terms of value-adding amenities, Danckert says a swimming pool reigns supreme. This is reflected in Domain data, which revealed “pool” was the top keyword across all capital cities by search volumes in 2023.
“A swimming pool would rank as number one, with a heat pump or gas heating to extend the swimming time throughout the year,” Danckert says. “And then second to that, a spa. But we are also seeing the emergence of infrared saunas.”
In Sydney’s eastern suburbs, Herron Todd White valuer, Shaun Thomas, agrees. “Even properties that are in beachside suburbs, the pool is still very popular,” he says. Alongside saunas, steam rooms and spas, Thomas says outdoor living spaces with al fresco dining are value-adding selling points.
“It’s a tricky one to quantify but you will see differences between properties that do and don’t have them,” he says. “They’re generally adding more value than the cost of them because of the lifestyle that people are after.”
Specialising in prestige property in the ACT, Acumentis director Renee Pollak frequently analyses the cost-to-value ratio of amenities. For example, if a home owner spends $100,000 on an outdoor pool, does it add $100,000 to the property’s overall value?
The answer, she says, lies in market demand.
“Low maintenance with high aesthetics is key,” she states. “People don’t want to spend their weekend maintaining amenity.”
The value of a contemporary heated pool with a built-in self-cleaning system will likely fare better than a property with an old vinyl wrap pool that will need replacing and regular maintenance.
Generally speaking, Pollak says prestige property buyers will reward quality. “For people buying in the top end of the market, they are typically well educated in what things costs.”
The strongest performing features to add value, Pollak says, are those used frequently and seamlessly incorporated into the floor plan or landscape, such as an outdoor area with an integrated barbecue and strip heating, ceiling fans and/or patio blinds allowing all season’s comfort.
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