De­mand hot for this type of house

A four-bedder close to shops, schools and trans­port is ideal, writes

The Courier-Mail - Property - - REALESTATE NEWS -

THE next big thing in real es­tate will be in the suburbs on the fringe of ma­jor cities as size, not lo­ca­tion, drives new buy­ers.

Aus­tralia’s most pop­u­lar home had four bed­rooms, two bath­rooms and a two-car garage, ac­cord­ing to fresh data from the na­tion’s top prop­erty por­tal, realestate.com.au.

What house­hunters want most now had one bed­room more than the av­er­age Aus­tralian home – which the Aus­tralian Bureau of Statis­tics listed as hav­ing 3.1 bed­rooms.

The hottest ticket in town was for four bed­ders that also had schools, trans­port and shops close by – even if they were nowhere near the big city.

REA Group chief econ­o­mist Nerida Con­is­bee ex­pected that could mean outer suburbs and fringe zones would see a lift in ac­tiv­ity this year.

“This find­ing sug­gests that as long as a lo­ca­tion has a high level of amenity in terms of shops, schools and trans­port, the geo­graph­i­cal prox­im­ity to the city is not im­por­tant,” she said.

“This bodes well for new hous­ing estates on the fringes of our cities, as well as re­gional lo­ca­tions. As long as there is hous­ing close to shops, schools and trans­port, th­ese lo­ca­tions will be pop­u­lar with prospec­tive buy­ers.”

She said al­most half of Aussie home­own­ers be­lieved their homes were too small.

“On av­er­age, home buy­ers are will­ing to pay $100,000 more than the worth of their cur­rent homes to get what they want,” she said, with the me­dian price sit­ting at $650,000.

Queens­lan­ders mir­rored the na­tional re­sult ex­cept the me­dian price they were af­ter for four bed­ders was $550,000.

Michelle Rodgers of McGrath Es­tate Agents Wyn­num, who has a four bedder on the mar­ket at 39 Schooner Cir­cuit, said bay­side suburbs were see­ing a rise in de­mand for this type of home.

“It’s been mas­sive,” she said. “Over $100,000 change in price over the last 18 months to two years. De­mand far out­weighs sup­ply here. (Fourbed­room homes) sell be­tween the first to sec­ond week­end.”

Ms Rodgers said firsthome buy­ers were seek­ing four-bed­ders in the $500,000 range while pro­fes­sional cou­ples and empty nesters were buy­ing those priced in the $600,000 range.

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