Mornington encapsulates the true essence of stylish coastal living. Featuring pristine beaches such as Mothers and Mills Beach, a bustling Main Street and plenty of schools it is not hard to see why it is one of the Mornington Peninsula’s most popular suburbs. With older parts of Mornington becoming hot property recently, our team at Conrad Construction have seen an increase in renovations and new builds alike across the suburb.
If you find yourself in this group of individuals lucky enough to be embarking on a construction project in Mornington – congratulations! There are many very exciting times ahead – after all, now is the time where you can get creative and design a property that not only speaks to you, but also appeals to a booming real estate market. Not sure what you are in for? Well we are here to help and with our top 4 construction trends in Mornington you are sure to build a home that is perfect for you and for your new coastal location.
Trend #1. Increased Popularity, Leads To Increased Prices in Mornington
It is no secret that the property market is absolutely booming at the moment, and it is no different in the stunning suburb of Mornington. So what does this mean for your property and the construction of your property? Well, increased demand always leads to an increase in prices, so what may once have seemed like an affordable option may have just gone out the window. Our best advice for overcoming this is to do your research. Clearly understand the Mornington area, including the location of schools, shops and parklands as this will all add to the desirability of the land. Also by doing your research you can set yourself realistic expectations on what to expect around the cost of the property too.
Trend #2. Subdividing Larger Blocks in Mornington
Because of the rise of property prices, a large number of property owners have turned to subdividing the block to get more bang for their buck when selling their development projects in Mornington. But what does this mean? Because a lot of the older blocks of land in Mornington are quite large, when they are purchased for re-development they are divided into two or more smaller blocks to maximise return on investment. The demand in areas such as Mornington has seen these properties sell for high prices despite the smaller land sizes.
Trend #3. The Rise of Townhouses in Mornington
Speaking of smaller land sizes, this has seen an increase in the amount of townhouses that are being constructed in the Mornington area. Relatively cost effective to build, there is a large appeal for these seemingly smaller properties. And more than that they are also easy and relatively cost effective to maintain for the buyer. With many popping up in Mornington’s most desirable areas such as close to Mornington Main Street, the beaches and key shopping centres such as Benton’s Square these properties combine convenience with modern style and a simple coastal lifestyle.
Trend #4. Labour Shortages and Supply Chain Disruptions in Mornington
COVID-19 continues to have an impact on the construction industry long after lockdowns have ended. Although things are slowly getting back to normal, we are still feeling the impacts in the Mornington construction industry through labour and supply of materials. This has seen project delays and potentially changes to materials that were initially proposed for projects. But by enlisting the help of a professional construction company that is familiar with the Mornington area, like Conrad Construction, you are giving your project the best chance for on time and on budget delivery.