Five Macro Property Trends For The Next Decade
With 2020 well in motion and along with it the new decade, property as always is a hot topic of discussion. As discussed in a recent video on Domain with Alice Stolz, the Managing Editor examined the five macro trends that will impact property in the next decade.
With a view that consumers mindsets are changing, Alice discussed that the rise of millennials would see a change in product demand, especially around High-Density living. Sacrificing features such as a garage and backyard for a more affordable home, with closer proximity to Melbourne’s CBD.
Property Growth Statistics, Domain 2020
In addition to high-density housing, Alice discussed low-interest rates, population growth, public transport and green living as listed below.
- Low-Interest Rates • Expected to remain low for some quite some time – volatility to subside around high price growth as interest rates remain steady
- Population Growth • Rise of the population in Australia will lead to further price growth
- Public Transport • People to become more demanding of public transport – reduce the use of cars
- High-density housing & larger apartments • Governments changing regulations associated with this level of construction – easier to develop this type of project.
- Green Living • Energy-efficient dwellings to be a key focus in the next decade as people become more and more conscious of their contributions to climate change.
This information was provided by Alice Stolz, Managing Editor of Domain. Domain delivers the latest market insights for qualified buyers, sellers and renters.
Video can be found here: https://bit.ly/2UA19lO