Second bathrooms add six-figure bonus to property sales



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The Real Estate Institute of Victoria (REIV) have found that a second bathroom makes a six-figure difference in property sale prices. 

Victorian municipality, Stonnington, saw the greatest value added to sale prices of two-bathroom homes, making $312,000 more than homes with only one bathroom, with a median sale price of $920,000. 

Port Phillip also saw the greatest difference for three-bedroom houses with two bathrooms, achieving a median sale price of $1,830,000 – $252,500 more than one bathroom homes. 

In a statement released today, REIV President Joseph Walton said second bathrooms were highly sought after by buyers, particularly in premium bayside and inner city areas. 

“The number – and quality – of bathrooms is a key consideration for buyers, especially those with families. 

“Buyers are often willing to pay a premium for the convenience of two bathrooms, rather than purchase with the intent to renovate. 

“Buyer demand for multiple bathrooms is having a marked impact on price growth for most property types. 

“Investors are also realising the value of having a second bathroom when listing properties for lease, with these homes delivering solid rental returns. 

“Second bathrooms are popular with a wide range of prospective tenants, whether they be families or those moving into a shared situation. 

“Given homes with added amenities are highly desirable, many new properties are now being built to cater to the growing demand for two bathrooms,” said Mr Walton. 

Two-bedroom units – 1 versus 2 bathrooms

Municipality

1 bathroom median

2 bathroom median

Difference

Stonnington

$608,000

$920,000

$312,000

Hobsons Bay

$466,000

$650,000

$184,000

Melton

$239,500

$400,000

$160,500

Mornington
Peninsula

$415,255

$550,000

$134,745

Boroondara

$646,000

$775,000

$129,000

Port Phillip

$600,000

$725,000

$125,000

Melbourne

$541,000

$660,000

$119,000

Yarra

$636,000

$750,000

$114,000

Maribyrnong

$425,000

$531,500

$106,500

Bayside

$727,000

$824,000

$97,000

Maroondah

$475,000

$555,000

$80,000

Glen Eira

$580,000

$652,000

$72,000

Brimbank

$343,000

$413,000

$70,000

Moonee Valley

$490,000

$560,000

$70,000

Yarra Ranges

$412,000

$478,475

$66,475

Three-bedroom houses – 1 versus 2 bathrooms

Municipality

1 bathroom median price

2 bathroom median price

Difference

Port Phillip

$1,577,500

$1,830,000

$252,500

Stonnington

$1,687,000

$1,925,500

$238,500

Bayside

$1,378,000

$1,590,000

$212,000

Mornington
Peninsula

$508,000

$686,000

$178,000

Moonee Valley

$960,000

$1,135,000

$175,000

Hobsons Bay

$825,000

$962,500

$137,500

Melton

$310,000

$445,000

$135,000

Darebin

$886,500

$1,020,500

$134,000

Boroondara

$1,703,000

$1,825,000

$122,000

Melbourne

$1,340,000

$1,457,500

$117,500

Glen Eira

$1,293,000

$1,400,000

$107,000

Yarra Ranges

$531,000

$620,000

$89,000

Moreland

$830,500

$915,000

$84,500

Yarra

$1,421,000

$1,492,500

$71,500

Nillumbik

$682,550

$751,000

$68,450

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