Is this the future of property?

first_imgJack Dixon of Dixon Family Estate Agents has laid our his thoughts on the future of property. Photo: Tara Croser.You wouldn’t usually imagine property professionals as shawl-covered gypsy soothsayer gazing deeply into their crystal balls so as to seek answers on what lies ahead for their industry.But Brisbane’s Dixon Family Estate Agents principal, Jack Dixon, took some thinking time and came up with some thoughts on the future of residential real estate.Mr Dixon highlighted six ways in which property dealings will be flipped on their head in the future. MAIN ROAD PROPERTY TO BECOME MORE VALUABLE Traditionally, buyers won’t touch a main road position with a 10-foot pole, but Mr Dixon said that attitude will change over the next decade.He said houses on major arterial roads currently suffer a 35 to 40 per cent discount on similar properties in quiet suburban streets, but the gap is sure to tighten.“Technology and transport innovations could eliminate that discount,” he said. “As we see more and more electric cars on the road, noise and pollution will significantly reduce.“Other trends will also contribute to making major roads quieter and safer, for example there will be fewer trucks thanks to freight innovations, deliveries made by drones, and a preference for local produce with low ‘road miles’.” HOUSES AS A STATUS SYMBOL Mr Dixon said current discussions around housing affordable show we are close to a future where only the well-heeled will be able to buy a free-standing home.“Cities will grow up, not out, as resistance mounts to urban sprawl,” Mr Dixon said.He believed a drive to reduce our environmental footprint and living costs will result in higher densities near the city rather than promote further city-fringe growth.“As a consequence, land in urban areas will be more and more prized. I can see a day when the younger and less affluent people in society live in high-density units, and only the most wealthy will be able to afford to retain their own patch of land and a house.” TECHNOLOGY IS THE FRIEND OF ACREAGE Mr Dixon believed technological advancement will make it easier to maintain large acreage home sites.“In recent years, we’ve seen the acreage market soften because people are just so busy these days that they don’t want or can’t manage the high maintenance demands that come with big properties,” he said.Mr Dixon said tasks such as cleaning and mowing will become automated.“…so the elite in society will again want to enjoy acreage living, free from menial demands,” he said.“Other innovations will make it even more practical and desirable. Self-drive cars to deliver children to school, drones to get the shopping, the ability to work from home; with no worries about traffic congestion and commuting, acreage properties will become more and more coveted.” FLEXIBLE HOMES More of us will be working from home in the future, said Dixon, and this will not only see some workers leave behind the strain of the daily commute, but they’ll’ also enjoy the opportunity to have flexible working hours.“That means our homes will have to become much more flexible, especially as space increasingly commands a premium,” Mr Dixon said.More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours ago“I love the idea Samsung floated in their Future Living Report, where our home will be able to adapt to our needs, being constantly reconfigured and rearranged to accommodate different purposes.“They imagined walls and floors able to change shape and size quickly, and virtual decorations altering to suit changing tastes and moods. Screens and computer displays can form and disappear in any room, as needed, so your bedroom might become your office in the daytime, lounge in the evening, and then revert to sleeping quarters.” CROWDED HOUSE Mr Dixon agreed with an opinion that the combination of improved medical technology which helps maintain our ageing population, plus a lack of housing affordability for the young, will see homes become multi-generational in Australia“This concept, common in European society, is likely to become more familiar here for a number of reasons,” Dixon said.“It will also be a consequence of the space and affordability issues I mentioned earlier.“Individuals and couples may no longer be able to afford a stand-alone house, but multiple generations could, so houses will change and expand to suit a variety of cohabitation models.” THE END OF THE AGENT Mr Dixon said even his profession isn’t immune from future changes with advancing digital development possibly consigning real estate agents to the scrapheap.“Virtual reality is already very advanced,” Dixon said. “Virtual touring of properties will become the norm, rather than the exception.“You’ll be able to very realistically walk through and experience properties remotely, even those that may not yet exist.”He said this could result in doing away with the traditional role of the real estate agent.“Only time will tell. But, while I fully expect virtual inspections to become commonplace, I believe there can be no match for professional experience and personal service and these remain the all-important ingredients an agent brings to a successful transaction.”Nice save Mr Dixon 🙂 Follow Kieran Clair on twitter at @kieranclairlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *