Smaller, Smarter, and Greener Dwellings for Australians
The trend for new houses and apartments in recent years has been toward buildling dwellings that are smaller, smarter, and greener. While a recent report by the Australian Property Institute found that green star commercial buildings deliver a 5 per cent premium in rent, the green trend is also catching in the residential market. Both first-time home buyers and investors seeking residential investment property are opting for compact living spaces. We examine what these smaller dwellings look like below.
1. Multi-Feature Rooms
It’s been estimated that removing household clutter can yield extra space equivalent to a bedroom or study, and incorporating clever design strategies can enhance space efficiency. Furthermore, well-designed homes can reduce construction costs by incorporating these multi-feature rooms.
Victoria Opening Up New Era of Inner City Living
With a new master plan for the Docklands, soaring building permits, and intensifying demand for inner city rental properties, Melbourne and Victoria are presenting new possibilities for inner city living as well as property investment. We take a closer look at the latest exciting property trends in Melbourne.
Dockland’s $700m Master Plan
Melbourne’s Docklands will see a further expansion plan which will bring in five new buildings, new retail spaces, and public spaces such as a major public park. The plan also incorporates residential living spaces and a large hotel. The development will take place on the ING Waterfront city land that sits between Docklands Drive and Victoria Harbour.
Brisbane’s Bowen Hills a Top Property Performer
Queensland has more than bounced back from the 2010/2011 floods, with Brisbane set for a period of intense urban renewal and development. Over the coming years, the Sunshine State’s capital city will see a series of major projects ranging from infrastructure to commercial and residential development. These projects will provide attractive opportunities for property investment, particularly in ‘up-and-coming’ suburbs such as Bowen Hills.
A Quick Look at Brisbane’s Unit Market
Brisbane’s unit property market is robust, with a strong spring season projected for apartments.
Perth as the Next Property Investment Hotspot
Perth is emerging as one of the most exciting contenders for Australia’s property investment hotspots. Major inner city development projects combined with critical housing shortages and a mining boom that’s set to accelerate are expected to lead to burgeoning opportunities for property investors. In this article, we take a closer look at some of the ways Australia’s fourth largest city is set to further grow as an attractive destination for property investors.
Perth: a Quick Snapshot
Property Investors See Value in Small Homes
It’s official – Australians build some of the largest residential dwellings in the world. however, while the size of Australian homes have consistently topped world rankings for size, new data shows that this trend is likely to be reversed. With a growing preference for smaller properties in Australia, investors have realised the value in a smaller, more efficient investment property.
Growth of Smaller Dwellings
According to Stockland, one of the country’s largest developers, affordability issues mean the size of homes in Australia has peaked, with a trend away from ‘McMansions’ toward smaller more efficient homes. They have seen a growth in smaller three-bedroom and two-bathroom homes, coupled with a decline in demand for five-bedroom residences.
High Speed Rail Boom for Property Investors
The federal government is currently researching a proposal for a $100 billion high speed rail link to be built along Australia’s eastern seaboard. The project, linking Brisbane, Sydney and Melbourne, will offer very fast travel between the three eastern capital cities and various regional centres. Phase one of the report details options for station locations. These transport hubs are likely to have a direct impact on local property demand, with a potentially positive impact on investment property.
The High Speed Rail Report
Phase one of the High Speed Rail Study was released in July 2011, with Phase two of the study to be released in mid-2012. The report is generally considered an implementation study rather than a feasibility study and the project has the support of both the Greens and the opposition. As such, it’s very likely that the high speed rail will go ahead.