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Turf boosts property value by over $100K during market slump
Publication date: April 10, 2019
AS THE property market continues to dip, finding cost-effective ways to add value to your home before selling might help to get the return you seek.
Hort Innovation recently conducted a national survey on behalf of Turf Australia with real estate group Raine & Horne to discover buyer sentiment around turf and landscaping.
The survey, funded through R&D levies, found that 93 per cent of agents recommended that vendors improve their lawn before going to market.
According to the survey, lawn was the most popular surface for family buyers (63 per cent), over decking (21 per cent), synthetic turf (7 per cent), paving (5 per cent) and concrete (3 per cent).
Around 40 per cent of respondents said a nicely presented lawn could boost the value of a home by more than 20 per cent, and almost one quarter of agents said it can add more than 30 per cent value.
Based on the Australian median house dwelling price, 20 per cent equates to $110,000.
According to real estate agents, the main attraction of lawn for buyers was the improved look and feel of the property (89%), added lifestyle and relaxation appeal (45%) and a safe playing area for the kids (42%).
But Hort Innovation Research and Development Lead, Dr Anthony Kachenko, said laying grass or supporting a greener landscape around the home added value beyond the bottom line.
“Through our Hort Frontiers Green Cities Fund we are supporting a number of projects that investigate the impact of greening on the mental health and wellbeing of Australians, in particular the affect it has on children living in urban environments,” he said.
“The research, led by Dr Xiaoqi Feng and Associate Professor Thomas Astell-Burt, co-directors of the Population Wellbeing and Environment Research Lab (PowerLab) in UoW’s Faculty of Social Sciences, found that more quality green space in Australian cities supported healthier children.
“This is not surprising. You only need to walk out of a building, or go to a park, or a sporting event to feel the difference that greenery makes. Becoming greener is not just an environmental matter, or a financial matter – it’s a matter of supporting good mental health and wellbeing.”
Dr Kachenko said Hort Innovation was working closely with turf and nursery industries, national researchers, government officials and climate change experts to make Australia’s urban spaces 20 per cent greener by the year 2020.
“This is an ambitious task, that requires support at all levels of government and across the community, but it can start with simple and cost-effective ways to boost greenery in and around your home,” he said.
“Laying turf not only supports our natural environment and sustainably cools our urban areas, it adds value to your home, boosts our sense of wellbeing and supports a healthy outdoor lifestyle.”
For more information on buying, laying and maintaining a lawn, visit: www.lawnspiration.com.au
