Homeowners show trend toward medium-density housing
elk realty & capital news highlight:
Since 2013, a rise in owner-occupiers choosing townhouses and larger apartments can be seen, based on the findings of the Knight Frank’s Australian Residential Development Review 2018.
Sales of these housing types grew from 2.2 percent in 2013 to 12.8 of all residential development site sales.
With limits put on investor loan benchmarks for banks over the past several years, owner-occupiers made up a larger proportion of sales.
This also signifies a move toward low-maintenance living, partially resulting from an ageing population downsizing and younger buyers like Millennials opting for smaller homes in more urban areas.
Even for high-density housing, the number of 3-bedroom apartments currently being built and due to reach the market within the next four years is expected to rise 42 per cent, according to Knight Frank’s head of residential research, Michelle Ciesielski.
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Read More:
https://www.smh.com.au/business/companies/investors-making-way-for-owner-occupiers-in-housing-sector-20180424-p4zbdu.html