The Importance Of Northern Aspect & Natural Light
In This Week's How's The Market | Edition 47
The Importance Of Northern Aspect & Natural Light
Off Markets Are Increasing
Is The Rental Crisis Getting Better Or Worse?
The Importance Of Northern Aspect & Natural Light
Natural light is one of the most important things people look for in a home. We often see properties with a northern orientation sell for significantly more amounts than similar properties on the same street facing south.
So what does the ideal orientation look like? And is orientation everything?
In short - the ideal orientation for a home is with the front facade of the property facing south and the rear of the house facing north if you’re living in the southern hemisphere as this will mean that you will get the most sunlight hitting the back of your home and your backyard.
However, whilst the block's orientation is important, the floor plan is equally if not more important as it will determine where the sunlight enters the home.
For example, an ideal floor plan will have a north-facing rear garden, with the kitchen and main living rooms at the north end of the property opening up onto the garden with large windows or glass doors. This will allow the maximum amount of natural sunlight to enter the property into the space where you will also spend the majority of your time.
See an example below:
If this particular property was south facing, then only the main bedroom and formal living area would receive the northern sun and the kitchen, living and dining room would receive very little.
There are a number of great reasons that one will seek good natural light in a home. None is better than the undeniable link between natural light and our mental health. Plus the desire to bask in the warmth of sunshine throughout the year resonates with us all.
However, the importance of a well-oriented dwelling and innovative design extends far beyond improving one's mood. It tackles the challenges of regulating indoor temperatures in our ever-changing climate and the amount of electricity used for lighting the home.
Additionally, dwellings that face south and receive limited natural light can suffer from condensation issues because of the different temperatures outside and in.
This can result in mould and timber rot from the moisture & humidity and cause extensive damage over a long period of time.
What The Agents Are Saying
More properties are selling off-market.
At the moment, we are in an interim stage in the market. As some properties are achieving great results at auctions, more vendors are considering selling. However, as agents are well aware, the properties that are achieving the best results are those that are renovated or ‘completed’.
This has resulted in many agents recommending to their vendors to spend a bit of money on their property to do the cosmetic renos and get their property ready for market. I’ve spoken to agents this week that have had some vendors spend upwards of $70k on their properties to get them ready for an auction campaign.
Whilst this is good advice and what the market is demanding, a lot of vendors also don’t have the time or means to renovate their property and are opting for a quieter off-market approach.
Even the vendors that are willing to spend the money and time preparing their house are considering off-market sales.
We were able to secure a property in this exact scenario this week. An off-market property that the vendor was considering spending $30k on and listing for auction in August. Instead, we swooped in and provided an easy solution for them and a great price for our client.
The Wow Factor!
Business at the front, party at the back.
This 101-year-old Federation-styled property has undergone an incredible renovation and transformation that has kept the beautiful period features of this home intact whilst adding an impressive modern extension and entertaining area at the rear.
Check out the before and after photos of the facade below!
In The Media
Melbourne rents: tenants’ nightmare worsening as listings slump in April
Aussies crowd together to ease rental crisis
Two different articles. Two different perspectives.
This is a reminder that ‘facts’ can change depending on where you get them.
In this example, we see conflicting news on vacancy rates from data collectors SQM and PropTrack.
My experience talking to property managers has been that the rental crisis is beginning to ease across Victoria, especially in regional areas.
Below is quoted directly from Louis Christopher’s most recent newsletter on the matter:
“SQM Research today has revealed national residential property rental vacancy rates continued to rise to 1.2% in April 2023. This marks the third consecutive monthly rise in rental vacancies.
The total number of rental vacancies Australia-wide now stands at 36,785 residential properties. Rental vacancy rates in Sydney and Melbourne rose to 1.4% and 1.2%, respectively. Brisbane, Perth and Hobart recorded rises to 1.0%, 0.6% and 1.6%, respectively. The number of rental vacancies in Hobart has now tripled since the all-time lows recorded in April 2022.”
Final Thoughts
The market is definitely changing from what we are seeing on the ground in the inner city market.
Auction clearance rates are increasing and some of the auction results from the weekend just gone have shown record sales.
For the sake of the tenants out there, I hope that the rental crisis is easing, though I don’t imagine that rental prices will fall anytime soon.
I expect supply will rise slightly as demand does over the next few months and we will see a healthier spring.
Thanks for reading this far!
We value feedback and if you have any suggestions on what you would like covered in the future please email me at tristan@tomii.com.au
Happy Buying!
Note: This is my opinion, please seek your own expert advice when making decisions.
