Are you planning on building a home in 2020 and want to know what some of the latest design trends in homes are?
With house prices in Sydney set to go up by 5 to 10%in the coming year, it’s no wonder first-time homeowners are looking to build their own place. And they’re looking for dynamic and innovative new home design trends to copy.
Here are four of the most interesting home building sydney and design trends to watch out for in 2020.
1. Big houses are out, smaller homes are in
As hard as it may be to accept, a lot of Australians are downsizing the size of their homes. In fact, it’s been a trend for the last couple of years and it looks like it’s going to continue in the coming years.
Research carried out by Comm Sec shows that the average new house built in the country is a mere 228.8 square metres. This is the smallest new houses have been in 17 years. While houses are shrinking, the average new apartment has gone up in size by 3.2% to 128.8 square metres. Interestingly, the loans taken out to build are still sky-high at $450,000.
2. Build simpler houses for downsizers
If you’re an investor looking for home and design trends, you may be interested to learn that downsizers are in the market seeking single-storey duplexes and terraced houses. In other words, they are after homes that offer them the opportunity to live a low-maintenance lifestyle.
Between 2014 and 2018, there was a push to build apartments and this saw a rise in cookie-cutter dwellings that had no uniqueness about them. Downsizers aren’t too keen on these charmless places and instead want homes that are simple and yet chic.
3. More people are opting to build in the exurbs
‘Exurbs’ are defined as the peripheral areas outside a megacity or the suburbs on the edge of these metropolitan areas. Think Box Hill, Menangle Park and Wilton. These areas tend to be self-sufficient and have their own infrastructures such as schools, shopping malls, medical centres, and all the necessary day-to-day requirements.
In his Sydney 2020 property market forecast, CEO of Starr Partners Douglas Driscoll is convinced that 2020 will see a rise in the number of exurbs which spring up. Those already in existence will continue to grow and thrive.
4. Homebuilding will slow down in 2020/21 before picking up again
The latest home building trends according to the Forecast Report by Master Builders Australia tells us that 2015/16 was a phenomenal year for new home building which saw a staggering 233,872 new homes being constructed in the year.
This trend has dropped unfortunately over the years and in the coming year, only 168,000 new dwellings have received approval and will be constructed in the 2020/21 year. However, by 2023/24 new home building is expected to grow by 12.1% with as many as 188, 255 new homes being built.
Do you want more information about 2020 home building trends? Contact us today.