House buying report: finding a value for sunshine

We strive to keep Wellington property owners up to date with the latest property information.

Here is another interesting Wellington real estate related news article that we thought may provide you with helpful information.


 

Press Release – MOTU
It is a truth commonly acknowledged that a house that gets more exposure to sunlight is more attractive, especially in ‘temperate’ climates like New Zealand’s. Until now, however, the value of that sunshine has not been calculated.

A study released today by Motu Economic and Public Policy Research Trust is the first research anywhere in the world to specifically evaluate the value buyers place on the sunshine hours received by different property.

“We found that each additional hour of direct sunlight exposure for a house per day, on average across the year, adds 2.4% to a dwelling’s market value,” said Arthur Grimes, Senior Fellow at Motu and co-author of the study……

Continue reading this article at the original source from Scoop Wellington

 

 

 

 

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2017-07-20T11:56:25+00:00