Property Development

Home ownership more affordable with $100K tiny houses for sale

Written by The ReReport
As seen in the Source link, written by on 2019-02-02 09:20:12

Tiny homes by Intelligent Building Systems International (IBSI) provide the perfect platform for young people to be able to get a foot hold in the property market. Photo: Supplied

Affordable mass-produced housing in urban parks is expected to attract a new generation of buyers, potentially boosting the state’s property market.

A new range of $100,000 tiny houses, on 50sq m lots, is gaining momentum in Brisbane suburbs.

Intelligent Building Systems International (IBSI) design and marketing general manager Jacques De Bedout said his company had been producing tiny houses for urban parks in southeast Queensland for more than a year.

“We need a new first step on the property ladder – one that is flexible, affordable and inviting. It needs to be welcoming, cool and adaptable to the needs of everyday Australians, young and old,” Mr De Bedout said.

Jacques De Bedout, general manager design and marketing, Intelligent Building Systems International (IBSI). Photo: Supplied

IBSI has produced 100 homes in suburbs including Eight Mile Plains, Durack and Chambers Flats.

All of the homes are manufactured off-site in Brisbane.

Mr De Bedout said: “The need for social housing, or mass housing, is often ignored and there is a huge pent-up need for it in Australia and New Zealand.

“The wait-list to get into urban parks or social housing can be years long. But we are not just talking about the over 50s here – it also provides the perfect platform for young people to be able to get a foot hold in the property market.”

He called on “bold property developers” with a vision and real commitment to affordable housing to come forward.

“A couple of small units in a highrise classified as ‘affordable’ is not good enough – we need volumes of good, sophisticated, well-designed small houses in quality locations to create thriving communities,” Mr De Bedout said.

REIQ CEO Antonia Mercorella agreed smaller homes with smaller price tags may also encourage a new cohort into the home ownership market, likely to be from the younger generation who would find it appealing for its lower demand on natural resources.

“A generation for whom the environment’s well-being is a key concern, and for whom a 25-year mortgage is unappealing,” she said.

“The housing market, at a basic level, is like any market in a capitalist economy – supply and demand dictates its existence.

“If the demand is there and there is supply to meet that demand then the tiny house movement will grow and thrive.”

Mr De Bedout said tiny houses enabled people to have a quality roof over their head at a price they could afford.

“This is not just about catering for the over 50s, modern urban parks have the potential to be vibrant hubs for young people looking for a leg up in to the property market,” he said.

In urban parks, buyers can purchase their tiny house – but not the land it sits on, Mr De Bedout said.

“That would be an affordable site fee that would cover the communal amenities and the like,” he said.

“In this model, the home itself is the asset and it could, for all intents and purposes, be relocated if needed. The house could need as little as 50sq m to sit on.”

Mr De Bedout said in over 50s retirement parks there were community centres equipped with pools, tennis courts, and bowling greens.

With a more youthful demographic in mind, they could do away with these facilities and replace them with technology hubs – a mini business centre where start-ups can function and innovation could thrive, he said.