The Four Horses DNA
A framework for separating the characteristics you can improve from the ones that remain with the property.
The Four Horses DNA
CAT 1–4 describes the work ahead. The Horses DNA framework looks at the parts of a landed property that are harder—or impossible—for an owner to change.
Strong inherent characteristics
A property without major permanent drawbacks in its location, plot or immediate surroundings.
Good DNA, enhanced
Strong underlying characteristics combined with improvements that add practical or market appeal.
Permanent compromises
Less desirable inherent traits that renovation or rebuilding cannot fully remove.
Compromises, improved
A property with weaker inherent traits that has been made more usable or attractive through value-adding work.
Start with what cannot be changed
Location, plot characteristics and the immediate surroundings form the property’s underlying DNA. A renovation can replace finishes, services and layouts. A rebuild can produce an entirely new house. Neither can widen a narrow frontage, straighten an awkward plot, move the property away from persistent traffic or remove a permanent external constraint. The first step is therefore to separate the house you can change from the land and setting you will continue to own.
Use CAT and DNA together
CAT 1–4 describes the physical condition of the house and the likely project ahead. The Horses DNA adds a second lens for inherent characteristics. A CAT 1 property can have excellent DNA if the existing structure is obsolete but the plot, street and surroundings are strong. A CAT 4 property can have poorer DNA if a beautiful new building sits on compromised land. Condition and DNA should be assessed separately before they are brought together in the price.
What forms a property’s DNA
Look beyond the façade. Consider the plot shape, frontage, road and drain level, access, orientation, neighbouring buildings, privacy, traffic, noise, nearby infrastructure and the position within the street. Check whether the site is regular enough to support efficient planning, whether cars can enter comfortably, whether the living spaces can receive useful daylight and whether external conditions are likely to remain. These traits influence daily experience, redevelopment flexibility and future buyer demand.
Good DNA and Stellar
A Good DNA property begins with sound inherent characteristics and no significant permanent drawback. It may still be old, dated or in need of rebuilding. A Stellar property combines that strong foundation with meaningful value-add: thoughtful architecture, an efficient floor plan, high-quality construction or improvements that make the strengths of the site easier to enjoy. The difference is not simply luxury finishes; it is how successfully the building unlocks the land.
Poorer DNA and Enhanced
A Poorer DNA property carries one or more inherent compromises, such as an awkward plot, weaker frontage, difficult access, persistent external noise or an unfavourable position. An Enhanced property has used design and investment to reduce the practical impact of those constraints. Screening, landscaping, acoustic treatment, a better entrance sequence or a smarter internal plan can help, but buyers should distinguish mitigation from elimination—the underlying trait may still affect resale and long-term desirability.
Test the DNA during a viewing
Walk the full boundary and approach the house from both directions. Visit at different times if traffic, school activity, worship, construction or evening noise could matter. Stand at the front and rear of the plot, check overlooking from neighbours, observe road and drain levels and consider how the sun reaches the main rooms. Ask what would remain exactly the same even after spending heavily on the building. Those unchanged facts are the clearest clues to its DNA.
Price the difference
Compare properties with a similar category, tenure, land size, plot type and micro-location before adjusting for DNA. Do not pay a Stellar price merely because a house is new, and do not dismiss a dated CAT 1 home when the underlying land is strong. Estimate the cost and time needed to reach the desired condition, then decide whether any permanent disadvantage is already reflected in the entry price and whether future buyers are likely to make the same adjustment.