Small lot living redefining the Great Australian Dream
FIRST homebuyers, young families and singles are finding a new foothold in the housing market, with smaller-lot but large-feature, new housing redefining ‘The Great Australian Dream’.
Research by REST Industry Super shows that 80 per cent of young Australians believe they’re not on track to buy a home and Australian Bureau of Statistics records reflect these findings, showing first home buyer numbers have declined by more than 30 per cent in the last 10 years. However, a new style of new home product is helping to make the dream affordable again for some very specific markets – first home buyers, small families and single people.
A market-leading new home style – Tempo Living by Investa Land, is reviving the home ownership dream, with fully finished homes from $285,200 in Brentwood Forest, Bellbird Park. With 2-bedrooms, 2-bathrooms and 1-car accommodation, Tempo is diversifying typical new suburban housing options and allowing new entrants to the market at a time when many had been resigned to a life of renting, or apartment living.
Investa’s Brentwood Forest estate at Bellbird Park is leading this suburban housing revolution, offering a range of housing styles within the Bellbird Park estate, including Tempo, which is bringing ideal opportunities for new homebuyers.
The Tempo Living house and land packages are providing cleverly designed homes at price points significantly lower than what buyers would pay for a traditional home and in many cases the cost of a new apartment.
Matthew Gross, Director of National Property Research said, “In SEQ where property prices are still more affordable than in southern capital cities, a buyer can expect to pay significantly more than $400,000 for a new house and land package within the middle to outer ring suburbs.
“For a brand new apartment in the same radius, buyers can look to pay above $480,000 for a basic two bedroom unit that are typically quite compact in size.
“While certainly for at least the last five years, some apartments have been more affordable than houses due to their smaller size, many home buyers still really desire their own patch of grass with their own house.
“So whilst apartments remain relevant for some people, a significant proportion of the region’s residents still want to live in the traditional detached family house, particularly when raising children.” Bruce Harper Investa Land Queensland General Manager said the Tempo product provides a unique solution for buyers looking for the best of both worlds, bringing buyers a home on their own piece of land at a cost cheaper than many apartments.
“Tempo homes are individually titled dwellings which means the home buyer is actually buying their very own asset – their own piece of land. “These house and land packages are available for less than the cost of many brand new apartments and without the body corporate fees of an apartment.
“Also, the homes are architecturally-designed and fixed price which are both big winners with buyers,” Mr Harper said.
“Having your own home and garden is wonderful for lifestyle reasons obviously, but it’s also terrific to asset value and long term capital gain.
“Buying a home is the largest single investment most Australians will ever make and from this perspective Tempo at Brentwood Forest ticks all of the boxes,” he said.
“These homes are cleverly designed, freehold, brand new and offer a great alternative to apartments and townhouses for buyers looking to enjoy the amenity just west of Brisbane.
“For most home buyers, the largest cost in building a home is the price of land. Traditional style lots in Brisbane are often priced above $300,000 for the land alone, making a house and land half a million dollars and beyond.
“Tempo is taking on the challenge of quality home affordability and buyers are the winners,” Mr Harper said. Twenty year old Tempo Living buyer Remi Newbery said the value, clever and stylish design, easy maintenance and convenient location made Tempo at Brentwood Forest the ideal first home.
“Brentwood Forest is a really good place to build because it’s evolving and growing and getting more popular. And with the Tempo house, I loved the layout, it’s really cute and compact,” Ms Newbery said.
“I did start looking for an apartment or a townhouse close by, but there wasn’t anything new available, and I felt that a house was a much better option because it is a foothold in the property market.
“I was very surprised that I was able to find a home that ticks all of the boxes for me. Brentwood Forest is close to transport and shops, and close to friends and family, it’s well designed and it’s affordable. It’s perfect for me.”
The innovatively designed house and land packages are less than 5km from Springfield and 30 km from Brisbane and provide a choice of different home designs at a fixed price.