There Is A Better Way

So much of the real estate news this year has been about how unaffordable property is and our current rental crisis. The solution is more supply of property to house everyone which both the State and Federal Government are trying to improve, focusing on particular streamlined zoning and planning guidelines. However, when I speak to local developers, builders and families looking at extending older homes one of the most basic road blocks is the extensive time it takes to build and have plans approved (in some cases years). Followed by the massive cost of materials and labour to complete the building as well as the high cost to borrow funds to do the project. If some of this process could be improved more houses, townhouses and apartments will be built stabilising price growth and easing the pressure on people renting.

I came across a great article in the Sydney Morning Herald last week on a home in Bryon Bay that has just been shortlisted for the NSW Architectural award for best home. It was all built in a factory in Queensland and trucked to the site, the modules from the home were craned into place and the house went up in a day. I know we are starting to see prefabricated bathrooms trucked onto site and craned into apartment towers, which speeds up construction and reduces costs.
Click here to read the article.

Just imagine, a fixed price residential build and construction in half the time. That would help our housing shortage.

In sales news we had a great auction on Saturday with 6 registered bidders, 13 bids and the house sold under the hammer just over the reserve price.