Families of all shapes and sizes are sticking together.
Whether it’s children and parents, parents and grandparents, or a combination of the two – many real estate agents are noticing the same trend.
Sales agent Ani Jones said this trend is leading to a broader demand for larger properties that can provide a change in lifestyle or have the potential for more than one residence.
She said properties such as 21-27 Kilkenny Street in Cornubia, which has the potential to build multiple dwellings and support multigenerational living, were highly sought-after.
The Kilkenny Street property features a five-bedroom, two-bathroom home that was built in 2000.
“The block of land itself it’s around 3372sqm of beautiful, flat, manicured land,” Ms Jones said.
“It’s very unusual, somewhere around the 2000sqm mark is typical of the area.”
There is plenty of room for additional dwellings to be built, which Ms Jones said appealed to many prospective buyers, particularly as the price of land continues to go up.
“We’ve had a lot of families who want to basically help their children, because they can build another couple of dwellings there.
“I’ve had some people who have wanted to have their mum and dad live with them, but in their own dwelling, and also their children.
“I’ve had a family with three kids, say ‘look at the prices’.”
She said parents were looking to add an extra dwelling or two to properties so their children can live on the block, but separately.
“Blocks of land where you can build granny flats seem to be in quite high demand because of those very reasons – affordability, for their kids, and to also help their parents.
“[Especially] their aged parents, so they… [do] not have to put them into a home.
“Some of them, of course, want a larger block for subdivision purposes.
“But with this one, it’s mostly a lifestyle change and also to be able to help their kids or their parents, to be able to have them with them without sending them to nursing homes.”
An in-ground swimming pool, tennis court, and climbing wall solidify the home as the ultimate lifestyle pad.
“It’s a lifestyle change, certainly for someone who would love a lifestyle change.”
