The global financial crisis has modified the Sydney investment game. Almost overnight an over priced unit sales boom fell away with prices becoming stagnent and the lack of available financehalted the speculative investors to true entrepreneurs eagerness for acquisition, improvement and disposal. It might be said that the Sydney market place was operating at unreal levels and needed the slow down.
In the time since the availability of money, the property market has stumbled along on a reduced number of sales volume and available borrowings. This has lead to intelligent investment and more real expectations about return. The market that has flourished in this space is investor aims to renovate existing property or purchase, demolish and build new in key places of value.
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 improvements at Miranda, Balmain and the Sutherland Shire for Midon have produced great results where old homes have become greatly increased properties in the relevant street scape. Similarly, new house construction at Bulli and Gymea have seen existing buildings removed to give way to beautiful architect designed Sydney builder homes.
A most new housebeachhouse} at Cronulla on existing block had some very special requirements, including a 8 metre wide block and requirement to build high to get to sea glimpses. The result was stunning. The carefully drafted designed home was carefully designed to ensure that light entered what would be a narrow home. Multiple levels, different shaped spaces connected by wide halls provide a dazzling experience of home. Multi-levels produce space at the ground floor for double garages, music room. At the high street level formal and informal living, studying, dining, kitchen and balcony. Upper level includes balconies, 3 bedrooms, living space, bathroom and en suite. Such homes have become very much the vogue as aspiring Sydney investor seeking value from owned property while gathering ideal living spaces, creating retirement investment and quality of life in a compromise of little.
Sydney builders like Midon Constructions based in the Sutherland Shire have become key builders for this end.