How much is a view worth?

Hi,
I'm looking at a property with good distant sea views, within reach of Sydney. The property is within 1km of the beach in a solid suburb. We were told that the view was protected by a height-restriction covenant on the single-storey house in front of the property. Our title searches have shown that while there is such a covenant, it does not cover the majority of that house, so any addition there would significantly impact our property's view.

We may pull out of the deal because the view is a significant reason for our interest in this property. Alternatively, we may use the lack of covenant as a negotiating point to get a lower price. What do people think a good view is worth? The property would still get some views, but not from its main balcony/living area.

Thanks,
Jenny

The selling point is proximity to the beach, not the view. Hammer the lack of covenant, distant views are almost worthless.

We have a direct riverfront 2BR unit in surfers paradise which is in an older building. The cost difference to the non water views units 2BR in the same building would be about  $80K.

Difference in rental for the equivalent unit would be about $30-$40/ week.