With the Sydney property market being among the most expensive in the world, homebuyers are turning to their backyards to increase liveability and extract greater value from their investment.
Australian Outdoor Living reports that demand for its range of products to enhance yards, including blinds, artificial lawns, outdoor kitchens, and roller shutters, has surged in the past year.
General manager for NSW, Michael Sales, said over the past 12 months, outdoor kitchen sales had increased by 118%, outdoor blinds experienced a 39% growth, and artificial lawn sales were up by 33%.
“From Newcastle to Illawarra and to the Blue Mountains and beyond, we’re seeing homeowners opt for alfresco upgrades over extensions to improve lifestyle and add value to their home,” he said.
“Backyard enhancements have become strategic investments, not just lifestyle luxuries. We’re seeing families get smart with how they use space, particularly in the Sydney growth regions of Western and South-Western Sydney, and they’re being rewarded with an increase in their property value.”
The surge in investment into the outdoors was not a surprise to Sydney-based real estate agent, Justin Spencer from Belle Property Parramatta. He said that ready-made outdoor spaces that add to the property are no longer a bonus, they are a key selling point.
“People want homes that work harder for them. Buyers are walking through homes with the mindset that the outdoor space needs to be more than just grass, it’s a retreat, playroom and dining room, often all at once.”
Outdoor kitchens, for example, are shown to increase ROI on homes by 100-to-200%, as buyers are increasingly drawn to homes that offer functional, versatile outdoor living spaces.
Michael said that, based on experience, adding an outdoor kitchen to a home could add around $20,000 to $30,000 to a property’s value. Meanwhile, an average-sized outdoor living area, complete with a pergola, decks, blinds, and an outdoor kitchen, could attract an additional $100,000 or more.
