A view towards 2020 with Heath Thompson
January 30, 2020
The market bounced back steadily in 2019 and, according to Heath Thompson, this can only mean good things to come for both discerning property investors and potential owner-occupier home-owners. In the past, some greedy developers failed on quality and delivered underwhelming apartments and townhouses that didn’t actually meet the needs, or expectations, of increasingly discerning buyers. 2020 will see a definite shift towards quality apartment developments, as a fresh generation of potential buyers ask tougher questions and do better research into the project teams they choose to work with, says Heath.
Anyone keen for a good buy in the evolving, dynamic 2020 property market should focus on aligning themselves with a reputable and experienced property development team who can deliver a development project to impeccable standards. 2020 will, says Heath, continue to see growth in the Melbourne property market and while that is good news for vendors selling established homes, it can also be great news for potential buyers looking at investment in off-the-plan builds in an evolving, more dynamic environment.
Future buyers must educate themselves to understand the truth behind the myth of land value. It is a myth, Heath says, that has seen buyers in previous years fall into the trap of valuing land size over the reality of quality developments – something that has seen some buyers disappointed by low-quality builds that have sacrificed quality design touches and that all-important location in the race to secure buyers.
When times are tough, the strong survive and, in the recent years when the property market has been less positive, the good news is that the cream has definitely risen. The developers doing positive things in 2020 are the ones who have invested time and money into researching the real needs of owner-occupiers and investors – teams that are focused on creating homes that meet the demands of buyers to create developments that tick all the important boxes of quality home design.
Knowing your team is always good advice and, according to Heath, if buyers are prepared to be patient and take the time to find a team they feel confident in working with, they will be rewarded with a stress-free off-the-plan experience, and the future reality of solid capital growth.
To find out more about what you should be looking for in 2020, as a property investor or owner-occupier, talk to our A-team of development specialists at Projects by Buxton Real Estate.