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The North Central Review
The North Central Reviewhttps://ncreview.com.au/
The North Central Review is an independently owned newspaper publishing company based in Kilmore that is responsible for publishing two community newspapers each week, covering communities within the Mitchell Shire

by
Joseph Walton,
President,
REIV

WHILE it’s a known fact that bathrooms and kitchens sell homes, new REIV data shows a second bathroom can add six figures to the sale price in a number of regional municipalities.

In the year to June 30, two bathrooms added the greatest value to the sale price of three-bedroom homes in the Colac-Otway Shire, achieving a median of $522,000 – $247,000 more than homes with only one bathroom.

Three-bedroom houses with a second bathroom also fetched considerably more in the nearby shire of Moyne with a median price of $392,500. This was $154,650 higher than the median for three-bedroom homes in the municipality with a single bathroom.

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A difference of more than $150,000 was also evident in Swan Hill with typical family homes with two bathrooms commanding a median price of $375,000, compared to a median of $223,000 for one bathroom.

Vendors with a second bathroom in the Alpine and LaTrobe municipalities also achieved significantly higher sale prices with medians of $380,000 and $310,000 respectively –$128,000 more than similar sized properties with only one bathroom.

Buyers were also willing to pay more for the convenience of a second bathroom in the Southern Grampians with a median price of $305,000 for three-bedroom homes. This was $128,000 more than family homes with a single bathroom.

Macedon Ranges and Mount Alexander also recorded higher sale prices for family homes with two bathrooms with medians of $563,750 and $499,500. This was a difference of $118,750 and $116,500 respectively.

Other municipalities where two bathrooms added more than $100,000 to the sale price of three-bedroom homes include Greater Shepparton, which recorded a median price of $286,070; Horsham, with a median of $302,500; Moira, with a median of $355,000; Wellington, with a median of $332,500; and Bass Coast, with a median of $385,000.

Meanwhile, a second bathroom was worth $96,500 to family homes in Greater Geelong, $77,500 in the City of Ballarat and $68,750 in Greater Bendigo.

For more information on median house prices by town or region, visit reiv.com.au.

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