Second Storey Extensions and Two Storey Homes Becoming a Perth Mainstay
Announcement posted by Next Level Extensions 16 Jul 2014
Shrinking lot sizes and rising land prices make second storey extensions and two storey homes a bargain in Perth.
Perth, WA, 16 July 2014 - As land blocks continue to shrink in Perth and land prices continue to be the most expensive in Australia, more and more homeowners are putting second storey extensions on their homes. In addition, a lot of new homes on the market are now two storey homes on lots as small as 100 sqm.
Builders and real estate professionals have known for most of a decade that land blocks are getting smaller, not only in Perth but across Australia. In 2013, the Urban Development Institute of Australia (UDIA) released statistics confirming what industry pros already knew: blocks are indeed getting smaller.
For the quarter ending September 2013, the average block of land sold in Perth was 415 sqm. For comparison, the 1970’s minimum block was 597 sqm, or 43.8% larger than the average block sold in Perth for the September 2013 quarter. Currently, over 70% of land blocks sold are less than 500 sqm. In the 1990’s, only 8% were that small.
One of the main reasons for shrinking land blocks is rising land prices. From 2003 to 2013, land in Perth tripled in price, from $200 per sqm to $600 per sqm. This makes Perth the most expensive market for land in Australia, with Sydney coming in “second place” at $572 per sqm.
The numbers say that Australians can’t afford to pay so much for land, especially first home buyers. As a response, developers are giving the market exactly what it wants: smaller, more affordable blocks of land. In addition, many developers are creating two storey homes to make more efficient use of those land blocks. With a two storey home, they can double the area of the house without increasing block size.
Craig Johns, Director of Next Level Extensions, a builder that provides second storey additions and home extensions in the Perth area, has seen an increase in second storey additions during the last ten years.
According to Mr Johns, “As land becomes more expensive, it is a natural market response to start building upward. A developer or a homeowner can maximise their land by having two storeys of living space instead of one. Using two storeys literally doubles the amount of living space without increasing the size of the land block. This saves a lot of money and qualifies as sensible use of resources.”
Mr Johns continued, “From our point of view, it makes sense for homeowners to explore their options as their families grow and they need more living space. We give them the opportunity to have more living space without spending the time, money or effort that it takes to sell the old home, buy a new home, make them settle simultaneously and move.”
Mr Johns concluded, “For the homeowner, it costs a lot less to increase the space in their existing homes than it does to move.”
Next Level Extensions provides second storey additions and home extensions in the Perth area. They have more than 40 years of combined experience in the building industry. To learn more or for a no-obligation consultation, call 1300 948 094 or visit their website: http://www.nextlevelextensions.com.au/.
Builders and real estate professionals have known for most of a decade that land blocks are getting smaller, not only in Perth but across Australia. In 2013, the Urban Development Institute of Australia (UDIA) released statistics confirming what industry pros already knew: blocks are indeed getting smaller.
For the quarter ending September 2013, the average block of land sold in Perth was 415 sqm. For comparison, the 1970’s minimum block was 597 sqm, or 43.8% larger than the average block sold in Perth for the September 2013 quarter. Currently, over 70% of land blocks sold are less than 500 sqm. In the 1990’s, only 8% were that small.
One of the main reasons for shrinking land blocks is rising land prices. From 2003 to 2013, land in Perth tripled in price, from $200 per sqm to $600 per sqm. This makes Perth the most expensive market for land in Australia, with Sydney coming in “second place” at $572 per sqm.
The numbers say that Australians can’t afford to pay so much for land, especially first home buyers. As a response, developers are giving the market exactly what it wants: smaller, more affordable blocks of land. In addition, many developers are creating two storey homes to make more efficient use of those land blocks. With a two storey home, they can double the area of the house without increasing block size.
Craig Johns, Director of Next Level Extensions, a builder that provides second storey additions and home extensions in the Perth area, has seen an increase in second storey additions during the last ten years.
According to Mr Johns, “As land becomes more expensive, it is a natural market response to start building upward. A developer or a homeowner can maximise their land by having two storeys of living space instead of one. Using two storeys literally doubles the amount of living space without increasing the size of the land block. This saves a lot of money and qualifies as sensible use of resources.”
Mr Johns continued, “From our point of view, it makes sense for homeowners to explore their options as their families grow and they need more living space. We give them the opportunity to have more living space without spending the time, money or effort that it takes to sell the old home, buy a new home, make them settle simultaneously and move.”
Mr Johns concluded, “For the homeowner, it costs a lot less to increase the space in their existing homes than it does to move.”
Next Level Extensions provides second storey additions and home extensions in the Perth area. They have more than 40 years of combined experience in the building industry. To learn more or for a no-obligation consultation, call 1300 948 094 or visit their website: http://www.nextlevelextensions.com.au/.