Investing In Australia’s High Density Future: What You Need To Know To Make The Right Decision
23 Oct 2018
Something curious is happening in the world of Perth real estate. Average block sizes in Perth have fallen steadily in recent times, but according to figures from the Housing Industry Association, homes are getting bigger. How is this even possible? Have we finally developed some kind of Tardis technology that allows Perth homes to be bigger than the blocks of land that they sit on?
It turns out that the answer isn’t anything as crazy as that - it’s that Perth is in the process of moving towards a more high density future. To make the most of smaller blocks, home owners are getting the best of both worlds by building up, not out. But why is this change happening and how can building a custom home help you capitalise on it?
The Shift Towards High Density Living
There are a range of different factors that have contributed to Perth’s shift towards smaller blocks and higher density living, which include:
- Increased focus on lifestyle and location:
lots of people nowadays are more willing to trade in more space (like a front and back yard) for a smaller block in a better location close to lifestyle attractions like bars, restaurants and the beach or ocean. This includes downsizers whose kids have left home and young professionals who have not yet started a family (or those who have no plans to do so at all).
- Housing affordability:
with many people struggling to get onto the property ladder, smaller blocks at a lower price are a lot more appealing to the first homebuyer market. After all, why be tied down paying a mortgage on extra land that you don’t really want or need in the first place?
These shifts in demand, along with other demographic factors, have lead to an increase in subdivision of large blocks in desirable locations.
How You Can Capitalise
With the Perth property market suffering over the last few years you could be forgiven for thinking that property might not be the wisest move. However, with a large amount of mining and infrastructure spending just around the corner and the state economy headed towards a major recovery, now is the perfect time to be building an amazing custom home that will cater to Perth’s ever-growing demand for great quality high density living in fantastic locations.
Whether you’re planning on renting or selling, securing some land in a desirable area and building a fantastic townhouse, duplex or triplex development is the ideal way to make the most of Perth’s high density future.
Not only will your investment appreciate in value over time thanks to the improving housing market, it’ll be much more desirable for people migrating to Perth to take advantage of the relatively affordable house prices (when compared to Melbourne and Sydney) and increased job opportunities that will accompany the improving economic conditions and increase in mining activity. This is especially true for the rental market.
Custom built townhouses, duplex and triplexes are also highly appealing to downsizers looking to trade their large family home for a smaller, higher quality residence in a better location.
How We Can Help
As one of WA’s most highly regarded townhouse builders, at Sovereign Builders we have an extensive knowledge of the Perth housing market and can help you to build the kind of high density housing development that’s going to allow you to get the absolute maximum return on your investment.
Beautifully designed and built to an exceptionally high standard, our custom homes will help you stand out from the pack and attract a better price than the humdrum, cookie-cutter designs offered by most builders. Get in touch with us today to find out more.
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