With house prices topping over $1 million in inner north locations – like the Grange, Gordon Park, Lutwyche and Windsor – small properties are offering big value, report valuers Herron Todd White.
“There’s strong demand for this product with open homes seeing 30 to 40 visitors at a time. It’s obviously a function of price,” HTW reports in its June market review.
“Because detached housing prices have moved beyond the reach of many, townhouses offer an affordable alternative. Price points in these suburbs reflect $550,000 to $650,000 for a two-bed unit or townhouse, increasing to $750,000 to $900,000 for three-bed attached product.”
HTW also point to Aspley and Carseldine where buyers are paying $500,000 to $600,000 for three-bed townhouses, and $600,000 to $650,000 for four-bed townhouses. This is at least $100,000 below the price of an entry level home in this area.
A townhouse or unit might tick the budget box, but will it do if you have your heart set on a house?
It comes down to your lifestyle. Once the domain of singles and couples, clever design and space saving storage make higher density living a comfortable choice for families these days.
If you need a half-acre for your three Rottweilers, then a townhouse may not do. But if you’re not a fan of lawn mowing, you could find a lower maintenance property suits your lifestyle.
Our main tip for house hunters is to set a realistic budget, know what you’re prepared to compromise on and what you’re not.
Ready to buy? View our current listings for sale.
Not yet? Check our listings for rent.