According to property experts, Sydney is the most expensive city in Australia, but it also has the most buoyant property markets with constantly rising house prices.
Demand is outstripping supply in both the buyer and rental markets, pushing prices up and Sydney’s workforce further out into the greater Sydney suburbs. This squeeze on property availability has resulted in the rise in popularity of duplex homes, a popular way of maximising your land’s value with the added bonus of a potential passive income.
What are Duplex Homes?
A duplex home is one residential building consisting of two homes that share a common wall and typically mirror each other. A duplex home design plan will show two dwellings located next to each other, like a townhouse, or an upper and lower level, like an apartment. These duplex homes will either exist under one title deed that can be owned and sold together; alternatively, they can exist under separate title deeds, and the units can be sold and owned separately.
Ideal Location for Duplex Homes:
As with any property, location is key. It’s always a good idea to do some market research into up-and-coming suburbs, suburbs that have good transport links to the city, within good school districts, that have all the convenient amenities, etc.
The flexibility of duplex house plans means that there are not too many design restrictions when it comes to plot size. Whether you’re looking for two-storey duplex designs, single storey duplex designs, or corner block duplex designs, you’ll be able to find duplex house plans and prices to suit both the plot size and your pocket.
With limited land availability and upward market trends, investing in duplex homes can be a wise financial investment in the right location. Suburbs like Engadine, situated to the south of the CBD, are enjoying an influx of duplex investments, and it’s easy to see why.
Engadine is situated 33km south of the city and boasts multiple transport links into Sydney, including the railway station on the Illwarra line, access to the Princes Highway, and several Transdev NSW bus routes. This suburb is also a nature-lovers paradise featuring wide open spaces, plenty of native trees, wetlands, cliffs, sandstone slopes and protected natural beauty, like the Royal National Park and Heathcote National Park.
Benefits of a Duplex over a Detached House
Buying duplex homes offer the investor numerous benefits that they would not realise with a typical detached house. That’s because duplex properties maximise the value of a single lot based on economies of scale. With two dwellings on one lot, investors have the option of renting out two properties or living in one and renting out the second, either way generating a passive income.
Duplex homes are also an affordable way of buying into a preferred location by limiting or removing any budget constraints.
In Summary:
Several factors are influencing the continued demand for properties in Sydney, including renewed economic growth, a growing job market, and increased interest from migrants and international tourists. Take advantage of Sydney’s rising property market by making your next investment in duplex housing in one of the city’s developing suburbs.