Sydney Building News
The global financial crisis has reshaped the Sydney home game. Virtually overnight an over cooked home sales boom stalled with prices coming down and the difficulty of available bank loanshalted the small investors to true entrepreneurs eagerness for purchase, improvement and resale. It could be said that the Sydney property market was operating at unrealistic levels and required the slow down.
In the time since the availability of borrowings, the market has stumbled along on a drip feed of sales volume and funding. This has lead to more prudent investment and more realistic expectations about profit. The market that has flourished in this environment is investor aims to improve existing property or buy, demolish and build a new in key locations.
Midon Constructions’ Michael Eagleton spells out the trend. “We have been renovating and knocking down to build new homes like never before in Sydney. The market is more cautious, but will invest where returns and lifestyle are available.”
Recent renovations at Miranda, Balmain and the Sutherland Shire for Midon have produced great results where modest homes have become highly valued homes in the relevant street scape. Also, new home construction at Cronulla and Gymea have seen existing buildings removed to give way to stunning architect designed Sydney builder homes.
A most recent homebeachhouse} at Cronulla on existing property had some very demanding specifications, including a 8 metre wide block and need to build high to get to sea views. The result was amazing. The architect designed home was creatively designed to ensure that light entered what would be a narrow home. Split levels, different sized spaces connected by wide halls provide a dazzling experience of space. Multi-levels make space at the ground floor for double garages, music room. At the mid level formal and informal living, studying, dining, kitchen and deck. Upper level includes balconies, 3 bedrooms, media room, bathroom and en suite. Such homes have become very much the vogue as aspiring Sydney investor wanting value from existing property while providing ideal living places, creating retirement value and quality of life in a compromise of little.
builders Sydney like Midon Constructions based in the Sutherland Shire have become key operators for this end.
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