Industry insiders have labelled 2018 as the year of the house!
Let's place the zodiac signs aside for a moment and take a look at the very latest market insights generated from the Master Builders Association.
There's a change underway within the construction industry as houses are making a comeback over years of unit domination.
“Looking into 2018, demand for units will continue to fall away in an environment of softer rents and modest price growth.
“When it comes to detached houses, continuing low interest rates and economic growth and population growth will continue to help stimulate demand.”
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Data for the 12 months to the end of September 2017 shows a four per cent increase in commencements for detached dwellings; a blatant contrast to the whopping drop of 40 per cent for unit commencements.
“It’s very positive for builders working in the detached housing sector and it’s a trend we don’t expect to see change any time soon.” Master Builders deputy chief executive Paul Bidwell.
Master Builders forecasts 36,000 dwelling commencements in 2018, with a remarkable 70 per cent made up of detached houses and 30 per cent units. Source: Master Builders.
Choice Homes Director Troy Knight agrees with the trend, adding that boutique unit developments away from Brisbane and in close proximity to the light rail on the Gold Coast will also see considerable appeal.
"We have a number of exciting new releases of home and land packages within high growth areas of Coomera, Pimpama and Ormeau, however there is also some strong appeal for smaller unit developments in close proximity to stage 1 and 2 of the light rail around Southport." Choice Homes director Troy Knight.