Second bathrooms are adding six figures to sale prices in a number of Melbourne suburbs, according to new data from the REIV.  Strategic Buyers Agent is member for the REIV’s Buyers Agents Chapter.

In the year to 30 June, two bathrooms added the greatest value to sale prices of two-bedroom apartments in Stonnington, where two-bedroom apartments with two bathrooms had a median price of $920,000, $312,000 more than homes with only one bathroom; while in Hobsons Bay (e.g. Williamstown) where the median for a 2 bathroom is $650,000, $184,000 is added.

For three-bedroom houses, two bathrooms added $252,500 in Port Phillip, where the median three-bedroom, two-bathroom house price was $1,830,000.

Other areas where two-bathrooms increased the sale price of a typical family home by more than $170,000 include Bayside, Mornington Peninsula, and Moonee Valley.

REIV President Joseph Walton said second bathrooms were highly sought after, particularly in premium bayside and inner-city areas.

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

“Buyers are often willing to pay a premium for the convenience of two bathrooms,” he said.

When Strategic Buyers Agents is purchasing for investors, we often encourage then to stretch their budget to second bathroom, if possible, as it will improve both rents and capital growth.