It is becoming increasingly difficult for buyers to get their hands on a larger unit, but this does not mean that they need to reduce the size of their dreams.
Since the beginning of 2020, the demand for additional housing has increased sharply. Due to the fact that remote work is fast becoming the standard, Australians have invested in larger and more spacious homes, says Paul Ryan, an economist at realestate.com.au.
“Obviously, people have changed preferences that spend more time in their homes during a pandemic and want more space for home offices, extra bedrooms and flexible spaces,” Ryan explains.
“Basically, people were willing to transfer a lot of the money they spent on travel to invest in a bigger house.”
In 2020, the number of searches for houses with three or more bedrooms in major cities exceeded the number of searches for one- or two-bedroom houses on realestate.com.au.
“We’ve also seen a big increase in the cost of premiums that people are willing to pay for big houses,” Ryan explains. The price difference between three- and four-room houses and one-room houses increased by about 12%. the data show.
Houses with more natural lighting and a special office or office have become more popular. Photo: Vibe 25 Center for Home Buyers at the exhibition in Minta, Clyde North
The trend of the smaller block
Due to the high demand for big houses, it is not surprising that many Australians have turned their attention to the land market to build their own dream home.
Ryan says that since 2020, there has been an “exceptional” increase in demand, which has been partly fueled by the federal government’s HomeBuilder program.
In Victoria, the total number of plots of land has more than halved between April ’19 and August ’21, according to PropTrack.
To make the Great Australian Dream a reality for novice homeowners on a budget, the size of blocks in green suburbs is getting smaller, says Oscar Stanley, general manager of development at ABN Group Victoria.
“Rising land prices in recent years have made every square foot of land valuable,” Stanley says. “So the average block size is reduced to maintain accessibility.”
While affordability is a major factor in small blocks, other factors also operate. It is assumed that rising interest rates and housing costs will also play a role in moving forward – paying less for the land required to work within budget.
Small blocks do not mean small houses
The good news is that while plots are shrinking, new homes are not following suit, according to James West, director of the Stockland project. Spending less money on land means more for people to invest in the design of their home.
“It’s a common misconception that you need a big block to build the house of your dreams,” West says.
“Many of Victoria’s best builders offer four-bedroom home designs on smaller sizes, allowing buyers to build a beautiful new home at a more affordable price.”
New home designs maximize the effectiveness of floor plans to maintain a high standard of living on less land. Photo: Vibe 25 Center for Home Buyers at the exhibition in Minta, Clyde North
Builders are offering more modern and attractive two-story and townhouse projects that “maximize planning efficiency and maintain a high standard of living on a smaller land,” Stanley adds.
“Both Homebuyers Center and Boutique Homes offer a variety of projects for blocks of less than 300 square meters,” he says.
“Our customers like affordable prices that provide these designs without compromising on quality or the high level of inclusions one can expect in a higher quality home.
“These houses look beautiful, require no maintenance and are also cost effective to operate.”
Making the most of the smaller block size means considering other considerations. One of the elements that disappear from smaller block structures is the large suburban courtyard.
But in the newly planned communities, developers are taking this into account in their projects, providing plenty of readily available greenery.
“We realize that smaller plots mean customers have less open space in their home, so we’ve included more greenery in Stockland community projects,” West says. “This ensures that customers still have open spaces to relax near the house.”
У Stockland Catalia, two additional primary schools, a future public facility and a future city center are on the way. Image: The artist’s impression can be changed
In Stockland’s new Catalia project in north Melbourne, buyers can purchase blocks ranging in size from 213 sqm to 350 sqm, depending on their budget. They are combined with an offer of 11 hectares of open space, including sports reserves and magnificent landscape parks.
Down the road to Beveridge, Stockland Lyre offers several larger blocks, from 221 sqm to 512 sqm, with access to 23 acres of open space including sports fields, parks and hiking trails.
All parks are carefully designed and include key elements such as playgrounds, sports ovals, outdoor picnic tables and public barbecues.
“Also, where possible, smaller plots are strategically located opposite parks and wetlands to ensure that these buyers still have access to open green spaces,” West adds.
A lot of greenery was included in Stockland Lyre master plan.
West says that when choosing the right unit and design for your dream home it is also important to evaluate the surrounding community and the lifestyle you like.
“Buyers need to value communities or more than just amenities in and around the community,” he says.
“They need to look for hospitable and inclusive communities. Stockland communities have an extensive community development program that encourages residents to get to know their neighbors.”
Photo courtesy of Stockland.