It’s official: balconies and yards are goldmines

Everybody knows having a balcony or courtyard boosts the value of your flat or townhouse – but have you ever wondered by how much?

Recently released data will shock you. If you’ve got outdoor space or a balcony, you’ve got value – an average $173,205 extra value.

A deep dive into the price differences between strata lots sold with and without outdoor spaces across Australia’s five major capital cities unsurprisingly found outdoor areas are highly prized.

What might be more surprising is the dollar value differences, especially if you live in a city with great weather, like Brisbane or Sydney, where a balcony will cost almost $400,000 more.

Weirdly – and perhaps it’s because of the types of strata properties available in Perth – balconies and outdoor spaces seem to be worth $33,000 less, on average. Blame the cold WA night air, perhaps?

How much more is outdoor space worth?

The realestate.com.au article explaining the analysis – which was done by outdoor furniture brand Woodbury Furniture – found nearly a quarter of strata properties have been built without any outdoor space, creating demand for the sought after feature.

In Sydney, balconies add an average of $360,000 to apartment sale prices. That’s almost 20 per cent extra for a bit of fresh air.

If you’re in Brisbane? That bump climbs to nearly 46 per cent. Even Melbourne – less known for year-round sunshine – shows a solid premium, especially for one-bedroom places.

Why? Because the smaller the apartment, the more people crave some kind of private, usable outdoor area. A space to sit, breathe, or sip coffee in peace.

Here’s where it gets interesting: the value of a balcony drops as apartments get bigger. For three – or four-bedroom units, that outdoor space isn’t as much of a dealbreaker. It’s still nice, sure. A small balcony tacked onto a large apartment doesn’t change much.

So what does all this mean for strata buyers, owners, and developers? It’s simple. Don’t treat balconies as an annoyance, especially if the structures have failed waterproofing, don’t comply with building codes or are looking worse for wear.

The balcony and courtyard not only offer strata dwellers valuable fresh air, views and an outlook, it increasingly offers a financial edge, too.