The simple feature that adds nearly $400k to your apartment
A simple balcony in an Australian apartment can cost you up to $390,000 extra in the search for your new home.
New research by outdoor furniture brand Woodbury Furniture has found nearly a quarter of apartments in major Aussie cities did not have a balcony, and buyers can feel the difference when it comes to cost.
Depending on what city you live in, balconies can drastically increase the price of an apartment on the market, with Brisbane taking the lead at a 46.4 per cent increase.
Woodbury Furniture interior design expert Chris Catinaro said this difference was thanks to outdoor space becoming increasingly coveted in real estate, with big population centres in the country becoming more crowded with hopeful homebuyers.
'In urban living, outdoor spaces like balconies and patios have evolved from optional extras to essential components of a well-designed home,' he said. 'They have a dual benefit, acting as both a lifestyle enhancement as well as adding value to the property, which is exactly why I think we're seeing such significant price premiums for homes with well-utilised outdoor areas.'
The data was collected from apartment sales in five major Australian cities on realestate.com.au. These sales were measured over the course of 12 months, up until April of 2025.
On average, the typical mark-up a balcony would bring to a home totalled at $173,205.80.
At mark-ups of $393,937, Brisbane was the city willing to pay the most for a balcony in their apartment, marking a 46.4 per cent rise.
Woodbury Furniture's commentary said this was due to the area's subtropical climate and culture for outdoor living, where balconies were considered an essential feature to connect high-rise buildings to the outside.
Meanwhile, Sydney's rising population and growing density were why the company felt balcony prices were growing there, with a hike of $363,198 (or 19.19 per cent).
Adelaide came shortly after on the list with a rise of 16.04 per cent for balcony apartments, totalling an increase of $95,320 from standard prices.
This was attributed to SA's outdoor entertaining culture during dry summers, with a smaller price jump thanks to lower property prices and a less crowded city.
But the populated city of Melbourne's mark-up for balconies was more modest at $46,777, making a 7.5 per cent increase.
While balconies offer more views for residents, analysis suggested colder winters and more public parks meant Melbourne residents treated the feature as less high-value.
Finally, Perth represented an outlier, where balconies seemed to decrease property value by $33,203 (-4.85 per cent).
This may have been due to a lower demand for balconies in favour of full outdoor yards in larger homes, due to Perth's abundance of land space.
Mr Catinaro said if apartment homeowners have a balcony, there are a few things they can do to make the most of it, such as greenery and weather-resistant materials.
'Incorporating plants into your balcony design adds more than just visual appeal,' he said. 'They can act as natural privacy screens, help cool the space, and create a peaceful, relaxing atmosphere.'
'Opt for durable materials like teak that can stand up to rain, sun, and changing seasons without losing their charm. With the right pieces, you won't need to drag everything inside when the weather turns, they'll keep looking good and feeling comfortable no matter the forecast.'
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