3 reasons why townhouses are gaining popularity

“Townhouses are easier to sell than a few years ago and buyers, especially professional couples and young families, are buying them up,” observed Casey Wang, agent at Barry Plant in Melbourne’s Doncaster East. .

Buyer interest is driven by several shifts in public perception and in the market landscape that have largely occurred since the start of the pandemic.

1. Rising house prices

Barry Plant agents report that while rising house prices have put the dream of owning a freestanding plot out of reach for many buyers, townhouses are seen as the next best option, offering many benefits such as a courtyard and individual access which apartments generally lack.

They are also often a more affordable option for those tied to living in a particular area where property prices have risen out of reach for a level of buyers.

“Land for homes is becoming scarce and house prices are higher, so townhouses, especially in good locations and desirable school areas, are in high demand,” Ms. Wang said.

2. More space than traditional apartments

While apartment developments have adapted to Australians’ desire to increase their living space as COVID has kept them at home, townhouse complexes are significantly ahead of this trend, generally offering more units with multiple bedrooms and increased outdoor space.

Michael Egan, sales manager at Barry Plant Bundoora, said size as the motivating factor behind the rise in popularity of townhouses was evidenced by the fact that small townhouses were even harder to sell.

“There is greater demand for larger townhouses from those wanting a low-maintenance lifestyle with a bit more size, and two-story four-bedroom townhouses are ideal “, did he declare.

“The trend is towards higher quality and more space, perhaps with a master bedroom on the ground floor with 22-24 square meters of living and blocks of 250-300 square meters.”

3. Low maintenance lifestyle

COVID has caused many lifestyle changes, including a move to regional areas and a storm of renovations to tailor homes to residents’ desires.

But for some, the time spent at home during lockdown and the remote work options that followed have shown that what they really want from their living space is a low-maintenance lifestyle. .

The nature of townhouse developments means that with constant complex maintenance, even older facilities are often ready to move in with little renovation required.

A recent construction frenzy also means that many options are newer, more modern builds.

“Many buyers like to buy new or modern homes, and townhouses are ideal because buyers can simply move them and not have to do any renovations,” Ms. Wang said.

Supply chain issues impacting construction are another reason why low maintenance townhouses have gained popularity.

“Townhouses will become more popular, with many people buying now due to rising construction costs,” Ms. Wang said.

Mr. Egan agreed that the trend should continue.

“Demand is very strong in sought-after suburbs with access to the city and for good-caliber homes.”

About the Author

Juliet Helmke

Based in Sydney, Juliet Helmke has extensive reporting and writing experience in business, technology, entertainment and the arts. She was previously an editor at the New York… Read More

3 reasons why townhouses are gaining popularity

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Last update: March 25, 2022

Posted: March 26, 2022