Modern Innovative Ideas And Trends In The Housing Market
Will the new year see a significant comeback from one of Australia’s largest real estate markets?
In 2019 we saw a sluggish Melbourne property market recover and stabilise, with promising signs in the third quarter that the new decade would bring improvements across all areas of the market.
When it comes to property development, the year 2020 is set to bring a lot of modern innovative ideas and trends for a better housing management system. In particular, a strong focus on the sustainability and environmental impact of multi-unit builds is becoming a focus.
Aside from a promising comeback in market performance, the new year will offer new property development trends. Let’s take a look.
The Skyrocketing Prices for Housing
Research head of Propertyology, Simon Pressley, said that the median property values across property markets are expected to outgrow the previous five years, over the next five years.
Where values have strengthened in only a select few locations, growth will become more widespread over the next five years. This means that in 2020, the prices will continue to positively grow, and there will be a strong demand for new property development in Melbourne.
To make the most of the market recovery, Mr. Pressley advised investors to look at the medium-term fundamentals, including the approval of new buildings, economic growth, job creation, population growth, ROI, and potential profits when considering an investment property and property development. This will help ensure they pick the right location.
The team at delcon have been developing property in Melbourne for the last decade, and have a great deal of experience in working with clients in the early stages of their development. If you’re looking to undertake a property development project in Melbourne, contact us early on in the project and we can help guide you regarding what to look for in a development site.
You can also view our previous articles here about profitable property development and why now is a great time to develop property in Melbourne
The Rise in Apartment Market
As the population of Australia continues to grow, the demand for living in apartments and multi-unit developments has also become higher.
Over 667,000 apartment buildings, flats, or units were built across the nation since 2000. NSW, Victoria and Queensland led the numbers with 259,000 apartments, 174,000 apartments, and 143,000 apartments, respectively.
In particular, the property market of Melbourne is supported by the growth in demand for apartment living. A massive 79% of housing markets are in places where rental prices have risen over the last 12 months. So, in 2020, we will see an immense expansion when it comes to apartment construction in line with demand.
The modern 2020 property development trends indicate an optimistic rise in the current market and show a steady supply and demand. This is great news for developers and investors.
Delcon design and construct are on the forefront of Melbourne property development in 2020. Our focus is on working closely with our clients to free them up from the nitty gritty day to day, and achieve the best possible financial result. If you’re looking to commence your property development project in Melbourne in 2020, get in touch with our team today on 1800 delcon (1800 335 266).