Developers 'making smaller properties for home loans customers'

Monday 04 July 2011

Article by Mozo

Aussies considering getting a home loan to take their first step on the housing ladder may not get as much land as the generations before them.

Smaller properties 'becoming more prevalent'

John Thurtell, general manager of builder PJ Burns, told the Queensland Sunday Mail that many new homes have smaller backyards.

He added that the terrace block sizes could be as small as 7.5 m by 25 m, although he asserted that the decline in the size of outdoor space could be partly attributable to the fact that many prospective home loans customers will pursue sports and other activities elsewhere.

Troy Wainright, development manager for Stockland, stated: "This is not just about affordability, but also liveability. More efficient block sizes situated near parks, public transport, places of employment and other amenities will make people less reliant on their cars."

Those considering applying for a home loan were recently advised by Simon Orbell, professional mortgage adviser for Smartmove, to ensure their credit file remains clean, reported the Daily Telegraph.

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