One of the most fabulous things about the Darling Point peninsula is its prime position in the heart of world-renowned Sydney Harbour.
This perfect positioning means many Darling Point homes are lucky enough to enjoy breathtaking harbour views. We find out more about this most coveted real estate feature and take a look at the perennial question – how much is a Sydney Harbour view worth?
A harbour view: the ultimate real estate feature
A harbour view is a home feature that never goes out of style. It can transform a room (or an entire home) and make you feel in turns calm, energised, and inspired. Whether water or city vistas, harbour views have that mercurial quality of always changing, depending on the season, the weather or the time of day, while remaining a soothing and steady constant. In suburbs like Darling Point, where buildings are already at their maximum heights and development is tightly controlled, views are unique, limited and irreplaceable, and that’s why they’re so sought-after.
What makes a Darling Point harbour view so special?
The harbour is Sydney’s pièce de resistance, and here in Darling Point, it’s virtually our backyard. Our peninsula juts out into its sapphire waters, affording many of our homes up-close-and-personal views of the iconic Harbour Bridge and Opera House, the twinkling city skyline, the glistening yacht-filled waters of Rushcutters Bay, north to North Sydney, Clark Island and Mosman, or east for sunrises over sparkling Double Bay and Point Piper.
Living in a Darling Point home with a harbour view might mean enjoying pole position for the spectacular New Year’s Eve fireworks or a front row seat for the start of the Boxing Day Sydney to Hobart yacht race. As we come into spring, Darling Point residents with harbour views will play daily witness to the sky, the harbour and its wildlife awakening from their winter slumber with longer days, a different quality of light infusing the water, ever-changing cloud formations and new life.
How much is a Sydney Harbour view worth?
When it comes to Sydney real estate, a view of our world-famous harbour has always been the most desirable vista of all, but new research reveals that demand for Australian waterfront homes is even greater since the advent of COVID. As we spent more time at home than ever, thanks to lockdowns, closed borders and remote working, our desire for a water view grew. This, coupled with a lack of homes with views on the market, has driven up prices for waterfront homes. Around Australia, waterfront homes now sell for 81 per cent more than comparable properties set back from the water, with harbourfront homes commanding the highest premium (116 per cent). Here in Sydney, that premium rises to 121 per cent for a waterfront home in a suburb like Darling Point with iconic harbour views. That’s up from 95 per cent in 2019 and the highest waterfront premium of any city in the world.
The quality of a view will also impact the price it commands. Unobstructed water views are the most highly prized, with some estimating they can add between 30 and 80 per cent to a property’s value. Partial or obstructed views may still boost a home’s price, but not to the same extent.
Which Darling Point views are the most prized of all?
Darling Point waterfront apartments and houses with views of our most iconic landmarks – the Harbour Bridge and the Opera House – tend to command the greatest premiums. These world-famous views are especially popular with overseas buyers.
As well as harbour views, direct water access is also highly coveted. The number of properties on the harbourfront will always be limited, thanks to the presence of nature reserves and parks and development controls, making the select few that possess direct water access most desirable. This can lead to significant price differences among homes in prestige neighbourhoods like Darling Point, even among homes that all possess stunning harbour views, with factors like the side of the street coming into play.
This immediate water access is where Sydney harbourfront homes often trump beachfront properties, most of which are found across the road from the beach. Harbourfront homes in suburbs like Darling Point also have the benefit of being closer to the city.
If you’re interested in buying or selling a home with a harbour view in Darling Point, get in touch today.