The allure of a breathtaking view stands as a major drawcard for many buyers but to see the Sydney Harbour Bridge from your window isn’t just the topping on the cake, it’s the crowning glory.
But how much are people willing to pay for a view of the iconic landmark?
“It’s priceless,” says Danny Taylor of Century 21 Feller & Taylor. “Anything with a view does attract a premium and a lot of competition.”
Taylor is selling 1/2a Dumaresq Road in Rose Bay, a one-bedroom, beachfront apartment with uninterrupted views of Sydney’s skyline, including the Harbour Bridge.
The 80-square-metre ground-floor apartment boasts floor-to-ceiling windows, a sleek kitchen with a calacatta marble breakfast island and a barbecue terrace with a pool.
“It’s a beautiful apartment with even better views and we’re guiding $3 million for this,” Taylor says.
“We sold another unit in the same building which was a 70-square-metre apartment and it sold for just above $2.5 million. If that was a two-bedroom apartment in Rose Bay without the view, you’re looking at $1.5 million.”
At the upper end of the apartment market is the penthouse at 85 Harrington Street, The Rocks, which has a buyer’s guide of $28 million.
The three-bedroom, four-bedroom, three-car apartment is spread across two floors and 483 square metres. It features a full butler’s pantry, a main bedroom with a boutique walk-in wardrobe, a home office, lift access from the garage, and a concierge service.
For those looking for something far less than $1 million, there are a few standout homes including 1403/7 Australia Avenue in Sydney Olympic Park – 13 kilometres from the CBD – which has a guide of $670,000 to $720,000.
It’s a two-bedroom, two-bathroom, 14-floor apartment with uninterrupted views of the city skyline.
Further inland at 205/22-40 Sir John Young Crescent, Woolloomooloo, is a one-bedroom studio apartment spanning 37 square metres. While a view of the iconic bridge isn’t visible from the apartment itself, the common rooftop entertaining area offers 360-degree views of the city.
Taylor says an apartment with a view can sell within days of being listed on the market.
“Apartments can sell between 15 to 20 days – very low days on market,” he says. “Whereas houses can be a bit longer because of the sheer size and sale method. There have been house sales that range from $25 million up to $60 million with this view.”
The house at 83 New Beach Road in Darling Point is on the market via an expressions-of-interest campaign. The property is spread across 669 square metres of land and has a perfect standpoint to view the New Year’s fireworks. While no price has been given, records show the property last traded hands in 2017 for $28 million.
“People pay a good million or few for a good view,” Taylor adds.
“Stock levels have been very low, but given buyer demand has been high, sales are working well. The supply is meeting the demand and if we got into a situation where we had too much supply, the market would definitely soften – but it hasn’t reached that point, nor do I expect it to.”