Moving demographic developments have been bringing in a fair amount of attention in the media recently, a thing that all traders should be getting close be aware of.
I’ve thought it was interesting to notice recently that the mainstream media in particular is starting to pick up about some of the changing but dramatic changes in real property trends.
I’ve discussed Australia’s ageing populace before, cheap many builders are shifting towards smaller-sized or multi-use dwellings, instead of the traditional huge home on a large block regarding land.
This wasn’t too long ago that the four-bedroom house inside the suburbs has been the standard ‘Australian dream’, however a big home doesn’t suit everyone any more. In fact, these types of houses increasingly suit fewer and fewer segments of the population.
The actual fastest-growing household size, according to a brand new report, is single-person households. These could be old Australians, who're living more than ever before, or much younger Australians they like to live independently.
“Single people, for example, are waiting around longer to get married or enter into a long-term relationship,” says Professionals California chief executive Geebet Kempton in a recent media article.
As a result, certain property functions are becoming more essential to some customers.
“Car parking and security features are important when buying a property, because much more single people are demanding higher levels of safety, and these characteristics can impact about the resale property's value,” Shane claims.
Are you positively considering Australia’s changing demographic developments when reviewing your next opportunities?
Or would you truly believe how the big house about the big obstruct will always have got its market, so you’ll still build your portfolio with freestanding homes rather than smaller rentals and units? Would love to understand where you stand with this, feel free to comment!
Til next time, happy trading!
The fastest-growing household size, according to a new report, is single-person households. Click here to know more about Real Wealth Australia.