The Knockdown-Rebuild Housing Trend in Australia
McCarthy Homes Address: 344 Bilsen Rd, Geebung, Brisbane, Queensland, Australia 4034 Phone: (07) 3326 6600 Email: admin@mccarthyhomes.com.au
Knockdown-rebuild or KDR is when a person buys a house for the purpose of demolishing it and building a new structure in the same piece of land. In some cases, KDR is applicable to households that see it as a better option than performing major renovations to their home. Many homebuyers today find it difficult to look for their dream home because they are looking for the ideal address, as well. Location is important, so what they do is get the land and get ready to knock down the house. As the city is becoming more crowded, desirable locations are slowly dwindling in number. KDR for Home Building The Australian Construction Insights (ACI) Research Snapshot (January 2015) reported that construction on second-hand land—the additional stock of urban densification—is due to the rebuilding of dwellings. This can be two (or more) types of dwellings on a single or multiple sites, which had a single dwelling in the past. KDR home building activity is increasing continuously, as the population grows. From 2007, the Australian population has increased by 300,000 per year. This means that more homes are necessary to shelter additional population. KDR for Home Upgrade The Master Builders Association (MBA) noted that 65% of greater Sydney housing are about 25 to 30 years old. All of them are ready for upgrading, which means that more homebuyers have a reason to choose KDR. Many Australians go for KDR, as their income increases. They want a bigger house that will reflect their lifestyle. Instead of buying a new house, they choose to knock down and plan a bigger house for their growing family.
KDR is a good option to keep the location while ending up with a better home. As more Australians prefer to live in the main cities and suburbs, they will need more housing options and KDR might be one of the solutions.
Sources: http://news.domain.com.au/domain/real-estate-news/knockdown-rebuild-ischanging-the-face-of-sydney-20110527-1f8im.html http://aciresearch.com.au/~/media/HIA%20Website/MiniSite/ACI/PDF/Publi cations/research/Research_Snapshot_Knock_Down_Rebuild_activity_Jan15. ashx http://www.mccarthyhomes.com.au/