The ACT Government recently released a housing choices report setting out the possible future change towards more dual occupancy homes.
In the paper, the ACT recognized a number of factors that influence and may drive a move to allowing and developing more dual occupancy homes. These include the population is growing, and Canberra is one of the fastest ageing capitals in Australia.
Coupled with this, the household size across Australia have declined in the last 100 years, down from 4.5 person averages, to 2.6, yet the size of our homes are some of the biggest in the world. This certainly supports a space reallocation position towards more dual occupancies.
The household compositions are also changing. The number of couples with children has fallen 14% since the 1990’s. However, the number of couples with no children and single people living alone has increased. This is the perfect scenario to allow for two homes in one, in a dual occupancy home.
Canberra has recognized that they have a higher ecological footprint, in that they impact the global environment more than people in most places on earth. Efficiencies in halting urban spread and helping to turn existing areas into more efficient housing precincts, without building hi rise apartments is on their agenda.
Dual Occupancy homes will certainly be the answer for Canberra. It the Government makes the right choices we may see existing older homes being redeveloped to dual occupancy and we will I think, see future housing developments have a large component of double income properties for investors. Thus providing far more dual occupancy homes for rent, and ownership, in the nations capital
For more information on Canberra and other area opportunities for a Dual Occupancy Investment. Contact Capital Wealth Property.