CoreLogic National housing Update August 2018
August Market Outlook
Hotspots: New report reveals top 50 ‘growth’ suburbs around the country
Preparing for a spring sale? Spruce up your home for less than $5K
Adelaide August 2018
Brisbane August 2018
Cairns August 2018
Canberra August 2018
Darwin August 2018
Gold Coast August 2018
Melbourne August 2018
Newcastle August 2018
Perth August 2018
Regional NSW August 2018
Regional QLD August 2018
Regional VIC August 2018
South West WA August 2018
Sydney August 2018
Wollongong August 2018
CoreLogic NSW housing Update August 2018
CoreLogic QLD housing Update August 2018
CoreLogic SA housing Update August 2018
CoreLogic VIC housing Update August 2018
CoreLogic WA housing Update August 2018
Borrowing for over 50s
3 innovative ways to break into the property market
Why should I get a pre-approval?
Newcastle August 2018
The month in review: Newcastle
By Herron Todd White
As with most things in life, things have gotten bigger and more luxurious in the past 50 years, never more so than in the property world. Where a 3-bedroom, 1-bathroom house used to get the job done for many families, it now doesn’t come close to fulfilling the needs a of a modern family.
Four bedrooms and two bathrooms have become the standard starting point for families with entry level aspirations. The only time you generally see 3-bedroom homes being built now is in either infill townhouses or in granny flat format out the back of the existing house!
Single garages have morphed into double garages in that time as we became two (and more) car families. Often times, the double garage isn’t actually used for cars but for additional storage and clutter. Driveways become popular resting spots for the old jalopy.
An interesting deviation from the bigger is better trend is the comparatively smaller blocks in new developments as the unit cost of land gets more expensive and the cost to developers in bringing lots to the market has increased significantly. The old quarter acre these days is about 450 square metres. For those of us unfamiliar with a quarter acre, it’s just around 1,000 square metres. If today you were to find a 1,000 square metre block of dirt on the market in and around a built up area, it would be ripe for the construction of two if not three dwellings depending on zoning constraints etc. Our trend towards higher density is ongoing in line with our desire to appear to be conspicuously virtuous and environmentally friendly.
Another trend we have seen come to the fore over the past 50 years is the emergence of a second living area, often in the form of a covered outdoor area or alfresco space. The older homes often lack a secondary living space and quite often the layout is not orientated to take in the best aspect the site has to offer. The addition of an outdoor living area allows more natural light into the dwelling and also helps the energy efficiency of the dwelling by allowing natural energy to be stored and retained throughout the day.
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.