The Australian Financial Services Commission has released a report into how house prices will change in a market that is set to explode with the arrival of the next wave of Australians, which will bring with it a slew of new, cheaper house styles and design trends.
The FSC says it has identified some key trends, such as rising demand for luxury residential apartments, and the emergence of a number of “luxury house designs” that will appeal to consumers.
“Many Australians are increasingly comfortable with the idea of owning a home that has a mix of traditional design and contemporary style,” FSC CEO Steve Hill said.
“It’s an opportunity for new and innovative designers to make an impact on our homes.”
Mr Hill says the commission has identified a number house styles that are currently on the rise.
“A few are very popular in Melbourne and in Sydney, and there are many others that are emerging as the next big thing,” he said.”[The FSS] also identified the rise in the number of luxury homes being sold as a result of the Australian financial crisis and the housing boom in Sydney and Melbourne.”
There is also a number that are also becoming popular in Queensland and Western Australia.
“A key factor driving the trend towards luxury houses is the affordability of land in Australia, Mr Hill said, noting that there is “significant demand for land for houses in particular”.”
There are a number more homes that are being sold in Brisbane than there were three years ago,” he told the ABC.”
In Sydney there are still quite a few luxury houses that are not available for sale, because the land prices have come down significantly.
“The housing boom is going to have a significant impact on the supply of houses for sale in Sydney.”
“This is a very exciting time for people to own homes, and a new wave of design is coming in.”‘
A new wave’ in styleThe FSB says the demand for high-end luxury residential properties is “growing” in a variety of locations, including Sydney, Melbourne and Brisbane.
Mr Hill said while it was “not yet clear” what would be the trend, there was “a sense that some of the luxury house designs are coming into vogue in a number or areas in Australia”.
“We’re seeing a new breed of luxury houses coming in,” he explained.
“You have these super-luxury properties that have a mix between contemporary and traditional design.”
Mr Burt says that many of the trends in luxury homes are designed to make people feel “connected”.
“It does mean that you’re not just buying a house for the comfort, but you’re also looking at what it will be used for in the future,” he says.
“If you look at some of these high-profile properties, the luxury features that are there like high ceilings, they’re also designed to enhance that feeling of connection.”
Mr Farr says it is important that we recognise that the demand is outstripping supply.
“We’ve seen in Sydney that some very high-rise residential properties are being purchased, and some people are finding that they’re not even able to afford a second home,” he adds.
“I don’t think people should be buying a second house just to live on.”
“We know that when you have a high-value property you’re getting an extra amenity, and that’s really good for your health.”
Mr Bull says a number design trends will be around for a long time to come.
“What we’re seeing now in the luxury market is something that is coming to fruition in Australia,” he explains.
“More people are becoming more comfortable with owning a house, and so there’s a lot of demand for these types of homes.”
“A lot of people are now finding that it’s a good idea to sell a house rather than just build it, and I think we’re going to see more of that.”
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