Angus Fraser’s Post

My view, is that the increase has been driven by investors. When the last Labour Government changed the rules around tax deductibility for landlords, this shifted the market toward new properties. For some developers, investors made up 80%+ of sales. Affordability is a key driver. I have been saying for some time that I believe that this particular market is now oversupplied. Numbers show a slow down in this segment over recent months. Planning rules favour medium and high density developments and I expect that we will continue to see high levels of multi-unit construction into the future. However, what is currently being built (for the most part) is at odds with our current housing stock and household profile. Here in Christchurch the median size of these units is just 86 m2 (1 double bedroom and 1 single bedroom), while the predominance of our overall housing stock is 3 and 4 bedrooms. Yes, the long term trend is for smaller housing units...but this is a "long term trend" (30 years) and not something that is driving demand today. Builders build what they think they can sell...until they can't.

Contrary to the conviction of some, Australian homes are NOT getting bigger. The Australian housing landscape is not evolving into a ‘mansion-market’, but a home market with an emphasis on construction-efficiency and cost-sensitivity, complimented by a concerted shift toward higher density. - The average new Australian dwelling has decreased in size from 2008/09 to 2022/23. - This is partly because Australians are increasingly choosing to build apartments instead of a detached house. - The data suggests that the larger the share of the new home market that are apartments, the larger the footprint of the average detached home, in that region. - Between 2008/09 and 2022/23, the average floor area of a new detached house declined by 3.4 per cent. - The living space within a detached houses is falling at a faster rate, than this data reveals as planning regimes have increasingly required a garage to be within the footprint of the house. - Between 2008/09 and 2022/23, the average floor area of a new apartment declined by 0.6 per cent. - Between 2008/09 and 2022/23, the average floor area of a new townhouse increased by 16.9 per cent. Housing Industry Association (HIA) discussion paper available here: https://lnkd.in/gFe96UfU

Hopefully this trend will continue on for the rest of 2024 and into 2025, as many analysists predict. Lower interest rates will help drive-up demand for townhouses and single family homes. Thanks for sharing National Association of Home Builders.

In Q2 2024, 42,000 townhouses were started in the U.S., an increase of 8% compared to Q2 2023. Demand for medium-density homes continues to be solid despite slowing for other #housing sectors. The share of townhomes being built is at an all-time high. https://lnkd.in/eg-bFXh2

The term Middle housing is referring to medium density housing. These dwellings are larger than single-family homes but smaller than large multi-family complexes. Some common types of middle housing include: Duplexes Triplexes Fourplexes Cottage Clusters Townhouses Accessory Dwelling Units Why this could apply to you: ~ You may already own property that has the potential to become a middle housing site ~ The demand for housing is rising exponentially, both in Oregon and nationwide. The State of Oregon passed legislation requiring cities to allow more opportunities for middle housing. Whether you are wanting to build for your own use or looking to sell; with this legislation, it is easier to build these types of housing on smaller and existing lots and provides more flexibility on zoning. Contact me today if: ~ You are looking to buy property for development ~ You own property that you want further develop/divide/sell

Terraced housing has dominated the new build sector in major cities and is now trickling into the rest of the country. In the below article, we explore the rise of terraced homes and the benefits and drawbacks of this type of build. https://lnkd.in/ewAmk2sU

🏡 Melbourne's Real Estate Insight: The Growing Divide 📈 Widening Gap: The price divide between houses and units in Melbourne continues to expand, posing challenges for those looking to upgrade from a unit to a house. 🌆➡️🏠 Affordability Crisis: With median house prices significantly outpacing those of units, many find themselves priced out of the housing market, pushing potential buyers towards apartments or out of the city. 💸🚫 Market Distortion: Statistics reveal a stark difference in price growth rates between houses and units, indicating potential overvaluation of houses or undervaluation of units compared to pre-pandemic levels. 📊🔍 Family Impact: The affordability issue delays life milestones for many, including starting families, as more people are compelled to consider long-term apartment living. 👨👩👧👦🏢 Call for Diversity: Experts advocate for introducing more housing variety, like townhouses and semi-detached homes, to provide more affordable options and address the market imbalance. 🏘️✨ ✍ by Sue Williams Read the full article for more insights: https://lnkd.in/g6qyy-EU

New Homes: We're finally seeing good signs for housing development - New housing moves slowly, but house hunters will be glad to see some significant new developments in progress https://lnkd.in/eneEqQtA

This story has gone off like a frog in a sock! Typically associated with supermarket shelves, new land is the latest “shrinkflation” victim, while the median residential lot size has reduced by 6.5 per cent to 485sq m over the past decade. It is particularly an issue in Sydney, where the standard 375sq m block of dirt sets buyers back a whopping $661,250 – more than double the cost a decade ago for three-quarters of the space. Housing Industry Association (HIA) senior economist Tom Devitt says affordability is being stretched as there is not enough land available. “It can take over 10 years to get a piece of unzoned land into a shovel-ready state where something can actually be built, and that’s greenfield areas in outer suburbs.” Read more in The Australian. #housing #housingaffordability #newdevelopment #housingdevelopment #building #construction #constructionindustry #land #landdevelopment #communities #shrinkflation

Great news for Sydney's housing market! I'm back in Sydney today, scaling up our plans with an advanced modular CLT inclusive residential grade mid-rise apartments model, a "fast-to-market solution." Our scalability. Our "Thrive Alliance" Cross-Laminated Timber (CLT) in Australia and Internationally is made from renewable plantation forest trees. CLT=stored carbon capacity is up to 40,000 “residential grade” midrise apartments per year, targeting the “Baby Boomers” and "Essential Workers " including social housing on a scale (including disability workers) across Australia, including Regional Australia, built in up to 75% less time than current custom construction methods, in excellent designs, detailing and finishes with almost zero waste of valuable building materials. As a proven "Placemaker" with major-scale residential urban projects, I have a rare sense of "social responsibility." I have set aside 30% to 50% of all my inclusive major residential urban projects for affordable dwellings with no mandatory requirements just through my initiative and sense of social responsibility over the last 50 years. My major sites won at State and Local Government tenders, including a worldwide tender for 3.5km of suburban beachfront unloved land in South Australia abandoned by one of Australia's leading institutional groups. We won that international State Government of South Australia tender and transformed this massive site with a negative value into today's value of around $3.5bn, with the State's highest capital growth for investment properties over the last twenty years. Buyers have achieved above-average capital growth over the decades in my previous major urban projects. We got right the blending of "new with historical overlays", a much-needed skill set in the ALP Premier Minns proposed rezoning of 30 significant Metropolitan Railway stations to residential-grade mid-rise apartments within walking distance of railway stations, our target market in all these nominated Premier Minns proposed rezoning areas. Over the decades in Sydney, I haven't seen any major residential urban project that's got this right other than "creating bots" on the landscape and alienating the very community that's a built-in buying base. Residents in those communities predominantly bought all my past inclusive medium-density and mid-rise apartments with these projects. There is no point in navel-gazing on where Sydneysiders should have bought a dwelling; very soon, we will announce our first "showcasing" inclusive quality residential grade mid-rise apartments in Metropolitan Sydney, as in the past, with expectations of a "complete sell-out" with our inclusive scalable, sustainable CLT offer from renewable plantation forest trees into Cross-Laminated Timber = Stored carbon. Thriveconstruct.com.au #Sydney #advancedmodular #residentialgradeapartments #inclusive #housingcrisis #fasttomarketmarket #sustainable