{"id":1203,"date":"2023-05-31T18:08:08","date_gmt":"2023-05-31T10:08:08","guid":{"rendered":"https:\/\/www.summithomes.com.au\/south-west\/journal\/uncategorised\/subdivide-and-conquer-the-market\/"},"modified":"2024-04-24T05:57:41","modified_gmt":"2024-04-24T05:57:41","slug":"subdivide-and-conquer-the-market","status":"publish","type":"post","link":"https:\/\/www.summithomes.com.au\/south-west\/journal\/subdivide-and-conquer-the-market\/","title":{"rendered":"Subdivide and conquer the market"},"content":{"rendered":"

It is no secret that Western Australia is facing a housing crisis with a low vacancy rate and a growing population.<\/p>\n

According to Summit Developments Senior Development Consultant Adrian Johnson, this has made it the perfect time to consider subdivision or strata lots.<\/p>\n

\u201cPerth\u2019s property market remains the most affordable in the country, yet it\u2019s poised for continued growth,\u201d he said.<\/p>\n

\u201cIn addition, the state continues to face a housing and rental crisis, as well as a low vacancy rate.<\/p>\n

\u201cGiven these factors, it\u2019s easy to see why investors are looking at subdivision for their next development.<\/p>\n

\u201cOr, for anyone starting out in property investment and who lacks the ability to take on a largescale project, front and rear strata projects are an ideal strategy.\u201d<\/p>\n

\"\"

Grouped housing development in Waikiki.<\/p><\/div>\n

 <\/p>\n

With so many different types of strata and subdivision projects available, it can be difficult for investors and homeowners to know what is right for them.<\/p>\n

Luckily developers, such as those at Summit Homes Group, are always ready to help owners throughout the decision-making process.<\/p>\n

\u201cThe type of development you can build on your block will be determined by residential design codes,\u201d Summit Developments Senior Development Consultant Ewan McConnell said.<\/p>\n

\u201cThe next step is to conduct a feasibility study, where your developer will analyse your project to maximise the potential returns and minimise the risk of any cost blowouts. \u201cFollowing this, your developer will order a feature contour survey to allow them to correctly assess your block and create detailed home designs.<\/p>\n

\u201cOnce all of this is complete, your developer can then accurately recommend what type of strata development will best suit your site.\u201d<\/p>\n

Summit Developments Senior Development Architect Quentin Lau said engaging with a developer early on in the process was key to maximising one\u2019s investment, as they often had industry knowledge that owners might not be aware of.<\/p>\n

\u201cKnowing what\u2019s possible for your site and the rules and regulations involved is vital,\u201d he said.<\/p>\n

\u201cFor example, something as simple as a sewage connection may have added complications that could prove costly down the track, so it is crucial to have the right people around you from day one.\u201d<\/p>\n

Mr Lau also notes that in order to get the best investment, it is important to consider where the prices are cheap and where the demand for housing is.<\/p>\n

\u201cLook at infill areas in close proximity to the Perth CBD with infrastructure or proposed activity centres such as universities, shopping centres or nearby public transport,\u201d he said.<\/p>\n

\u201cConsider Perth\u2019s older suburbs where you are paying land value only and the existing house has no intrinsic value or property with an existing house that has redevelopment potential on the vacant portion.\u201d<\/p>\n

\"\"<\/p>\n

*As originally published in The West Australian on 18th February, 2023.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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