The Evolution of the Australian Residential Market

the evolution of the australian residential marketLet’s be honest. For those of us who live in Melbourne and the surrounding areas, we’re pretty proud of where we reside. As if the weather and scenery weren’t enough, we’re surrounded by some of the happiest people in the world, a plethora of things to do, and a residential market which continues to grow stronger and stronger. The Australian Heritage Homes team is proud to be a part of the industry here, and inspired by each and every one of our valued customers.

For decades, it’s been etched into the national psyche to get married, have children and buy a home for the family. It’s been referred to as “the Great Australian Dream,” even branching out in recent years to shows like ‘Neighbours.’ But the times, they are a changing, and homes are getting bigger and more extravagant. Did you know that homes grew from an average of 162 square metres to 240+ square metres in the last five years?

Here are some more fun facts, thanks to the Urban Development Institute of Australia:

  • Median lot sizes fell 29 per cent in the decade to 2014 and contracted by a further 3.6 per cent last year.
  • There are approximately 9,000,000 dwellings in Australia with a total value of around $6.2 trillion.
  • As of 2009/10, a quick spreadsheet calculation indicates that Australia had at least 25.6 million bedrooms even though we only had 22 million people.
  • Over the last 10 years home prices around Australia rose by an average of 5.7% – hardly property bubble material as some doomsayers are suggesting.

There are positives and negatives to these statistics. Companies like ours are able to get more creative with our valued customers. We can look at smaller backyards, so that you can spend more time with your family in the areas of your home that are used most. There are lower costs associate with land; Finally, the positive impacts for urban sprawl are many. Smaller backyards restrict the amount of space available in which outdoor activities can occur in a safe environment, so there is that trade-off.

As anything with associated with inflation, housing costs go up and the availability of ideal plots of land go down. Luckily for you, when you work with the Australian Heritage Homes team, you know that you’re getting the inside track to the best lots and the best deals for your ideal home.

So why does this matter? Australian Heritage Homes isn’t just focused on building your idea home. We’re dedicated to making the communities around us the best that they can be. We are passionate about looking forwards, seeing what is possible and using natural resources wisely. So, you can expect the AHH team to come to the table, not just with ideas for construction and interior design, but a true love for all things architecture and all things Australia.

Questions? Comments? Give the Australian Heritage Homes team a shout. We’d love to hear from you and help make your future home dreams come true.