NBN Important to Buyers
We are all using the internet more and more every day, it’s one of the main ways we access entertainment and stay in touch. Fast, reliable broadband internet is no longer a novelty, it’s essential. Property buyers in new and existing areas are very aware of the roll-out of the NBN, it has an impact on how people view properties and locations. New property buyers and renters are increasingly interested in the types of broadband services available or planned for the future.
The availability of the NBN or other telecommunications services is now an essential on every buyers and renters check list. Published figures show that 80% of buyers see this as important and that is expected to soon rise to 90% plus. With more people working from home the reality is that poor internet services can sink a potential purchase and reduce rental income. In new projects buyers want to know the developer has done the right thing by installing the best possible infrastructure.
It might come as a surprise that the City of Sydney currently manages 22 community gardens across the City. There’s a growing awareness of community gardens and some new apartment projects now include veggie gardens as part of their landscape planning. Community gardens became essential to survival in feeding families in the UK and USA during tough times. Today the trend is much more associated with healthy living and a growing awareness of having access to produce that is grown locally. It’s a trend we expect to see continue in public parks and in private developments.
Facilities maintenance and management is a topic that doesn’t get much attention until something goes wrong. However, as an increasing number of people live in medium and high density residential buildings the demand for quality facilities management is becoming much more evident and important to residents.
It’s an area that involves guiding and managing the operation and maintenance of buildings, precincts and community infrastructure on behalf of owners and tenants. It’s grown to be a big industry estimated to employ over 250,000 people, and the industry contributes over $24 billion annually to the Australian economy. Professional services give residents peace of mind having evolved from the traditional services provided by building caretakers during the 1970s.
Buying Near a School
If you’ve ever had to join the before or after school pick-up rush, and the unavoidable hustle for a parking spot, the idea of being near a childcare centre or school suddenly becomes very appealing. But would you be willing to pay more for a house or apartment near a school? While there’s no hard and fast local research, there are some interesting figures from the UK. Research undertaken there by Lloyds Bank show that buyers are willing to pay a whopping 45% more for a home near the best schools. Locally there’s evidence that some off-shore buyers have not been shy of paying a 30% premium to be near a good school or university and rents are often 10% higher for the same reason.
Here Comes the Sun
Australia has the highest rate of household solar panel installation in the world with about 15% of Australian homes having solar panels. Installation rates are highest in South Australia and Queensland, with some areas in Adelaide and Brisbane having more than half of all homes with solar panels.
Overall South Australia has 25% of dwellings, which is the highest in the world, and Brisbane’s has 23%, and then Perth and WA with 18%. And as power bill rise the trend is expected to increase.
Solar panels and battery storage might soon be the norm for new homes with more apartment projects also looking to use solar power. However, Australia lags with large-scale solar projects and we are behind countries like Germany and the US, currently Australia is ranked sixth in the world for total solar installation per capita, but with higher energy prices and supply worries that figure may well change.