The property industry uses the term ‘Hot Spot’ to describe a suburb that is about to, or currently undergoing gentrification. Gentrification ultimately results in increased demand for property in the area, often surpassing supply, resulting in an increase in prices to buy and prices in weekly rent. So a ‘Hot Spot’ rule of thumb is the shortest route to potential capital growth and rental yield gain.
The team at townhouse developments view upcoming townhouse project floor plans on a daily basis, only the best townhouse developments make it through our stringent due diligence to be listed on the website.
A ‘Hot Townhouse Development’ has to meet the following criteria
- Proximity to amenity
- Townhouse floor plan design
- Turn key inclusions
By proximity to amenity we mean is it within a five minute walk or quick drive to transport, retail, essential services, primary and secondary schools.
Train and tram might be obvious however increasingly buyers are more considerate of the environment, traffic congestion and vehicle operating costs going from two cars to one so proximity to transport is paramount to be considered hot.
Retail & essential services enable day to day life to be contained within the suburb you reside. Supermarket, local cafe, bank, post office to gym and medical facilities ensure that on the weekend you really do not need to leave the suburb.
Primary and Secondary Schools is important again to keep the time taken for the school drop off and pick up to a minimum. School Zones are increasingly driving purchase preference and in suburbs such as Balwyn and McKinnon the school zone underpins demand and price foundation in their suburbs respectively.
Townhouse floor plan design is important from a flow and liveability review. Starting with access, can you access your townhouse easily from the footpath and driveway/parking or garage. Natural light and ventilation to areas that you will spend most of your time in, the living and dining room, kitchen. Does the kitchen layout suit your purposes, if you are an avid home cook you may want the option of a portal island benchtop. The shape and dimension of rooms are important, if the bedroom was a triangle would you be comfortable sleeping on an angle?
Turn Key inclusions means you can move in straight away at settlement. Items to ask about include blinds to windows and if the townhouse has a front or rear garden is it landscaped?
Townhouse inclusions are important from a maintenance and longevity of fixtures and fittings. Historically many kitchens had mirrored splashbacks (wall behind the sink and cooktop) mirrors are difficult to clean and with pots and pans can easily crack so these are now tiles or fabricated glass that are easier to clean and more durable. Similarly, benchtops being marble are porous so sauce spills or red wine would stain and knife on the surface may crack or chip so smart ceramic and forms of reconstituted stone are regarded highly.
It goes without saying that price is our last item on the list for a townhouse development to make the hot upcoming list. Price in any instance needs to be fair market value.
Prices for off market, off the plan, under construction and newly built townhouses are fixed. That is the list price is the asking price, so, unlike an auction where the end price is measured by market demand and perceived market value on any day the price of townhouse developments is done with a little more science and research from comparison of similar designed townhouse product and inclusions in close proximity. Townhouse Developments tracks the pricing, size and number of bedrooms in every development we come across and have a map with the average price per square meter and also list prices updated daily so you can always ask us and we can send you this report.
Townhouse developments has hot upcoming townhouses throughout Australia, when these come available we notify you via our weekly townhouse development project update email and if it is a specific product and in a specific location that you want we will notify you directly via phone and email. If you have been looking for a while and still not found a townhouse that suits your needs feel free to contact us and we can let you know about future townhouse projects.