Rising house prices, land scarcity and shrewd investors looking to maximize returns could all be triggering a lean towards Dual Occupancy properties.
We’ve been covering the massive house price rise forecast for Queensland over the last year now, even building giant Metricon is preparing for the likely jump launching a Queensland Dual Occupancy campaign.
Metricon made an announcement on Tuesday stating they were looking to take the impending demand head on by launching DualOcc by Metricon a “specialist duplex and dual occupancy service aimed at maximising clients investment and multiplying a property’s potential”.
Metricons Queensland general manager Peter Ryan stated that “One of the main advantages of dual occupancy is the potential to make more income from a single land title.”
Dual Occupancy properties also open up an opportunity for owners to subsidise their mortgage by living on one side of the property whilst renting out the other.
Mr Ryan also stated that a triggering factor for the push towards dual occupancy demand was a dwindling land supply and councils looking for alternatives to high-rise apartments.
“One of the main advantages of dual occupancy is the potential to make more income from a single land title”
Dual Occupancy dwellings are classed as two or more homes on a single block of land so offer an increased upside for investors.
Dual Occupancy properties aren’t a new trend with the larger Sydney and Melbourne markets taking advantage for a number of years and have also been popular in newer Satellite cities in Queensland like Springfield and Ripley.
A Domain article published earlier in the year highlighted the advantages of opting for a dual-occupancy property with a number of Melbourne residents taking up the build as a way of capitilising on underutilised land.
It is a smart choice for investors looking to get more bang for their buck and bring in dual incomes on a single block of land.
Metricon isn’t the only builder offering Dual Occupancy options with the trend building momentum from a number of Queensland builders ensuring investors plenty of opportunity.