We have all heard the news, Perth’s block sizes are shrinking and there is no sign that the trend towards denser living will flatten out any time soon. The greatest opportunity presented by the narrow lot trend has been in two storey home design, with 2 storey home builders re-defining traditional two storey living in order to satisfy the demands of first home builders in Perth.
Building a two storey home is one of the best ways that first home builders can capitalise on the changing home building landscape in Perth. Here are 3 reasons why.
1. Dominance of 10m and 12m frontages in Perth
Over the past seven years average lot sizes in Perth have consistently decreased. In August of 2015 the average size block was 411 square meters, down by 10 square meters from the previous year. To be able to maximise the space on these shrinking blocks, 10m and 12m frontages were introduced and building a two storey home on these narrow frontage blocks has become the norm.
2. Changing lifestyles of first home buyers
Nowadays first home buyers are staying in their first homes much longer than over the last 15 years. The previous trend of purchasing smaller inner city dwellings and then moving to a larger family home has become difficult to achieve, due to the overall increase in Perth and Australian property prices.
Australians are also delaying marriage and having children later on in life with the average number of couple only households increasing, while households with children have decreased since 1995, according to the ABS.
Taking both of these trends into account, first home buyers in Perth are building two storey homes to allow for the opportunity of family growth in the future. With separated living quarters and additional bedrooms, 2 storey homes are able to grow with this new breed of first home buyers.
3. A shot at affordability
No longer does building a two storey home mean that the price you pay is effectively doubled. With block square meterage the biggest reason behind Perth’s skyrocketing land prices, the influx of narrow lots with affordable two storey home designs is making it more attractive for first home buyers to enter the housing market in Perth.