The Backyard Dream

The backyard dream represents a lifestyle that many Australians continue to desire; but is it what we need or is it simply reflective of an earlier era?

Perth is the most isolated city in the world where land is aplenty, but services such as water and energy supply are not. Perth is also an elongated metropolis growing along four lengthy urban corridors and transport spines, which in turn accentuates the competition for near and inner city accommodation.

As Perth develops, it increasingly offers two distinct lifestyle choices; high density apartment living or a family home with a backyard in the suburbs. The latter comes with a price tag attached which continues to climb.

We are already seeing many of the larger lots in Perth succumb to developers plans with lots becoming significantly smaller in order to fit more in and offer the ‘dream’ to more people. There is also pressure from Government to convert backyards with urban in-fill development.

It is predicted that by 2030 Perth will have a population of 3.5 million, which will see some people from the next generation wanting to buy homes and finding their traditional home expectation financially and physically out of reach.

That doesn’t mean the dream of owning a family home complete with a backyard and picket fence will disappear, as the desire and expectations will continue. What it does mean however, is that the backyard dream is becoming an increasingly challenged dream to achieve. With this in mind, perhaps it’s time for us to accept that alternative living solutions need to be offered to change the way society views property.

People need to wake up to the realisation that obtaining the dream family home is only one part of the mission. The ongoing rates, maintenance and household costs tend to be the forgotten factors. Not to mention the questions of affordability and the increasingly difficult to finance property purchases. We need to get realistic about housing sustainability and let go of the idealistic lifestyle choice.

As real estate professionals we can constructively contribute by empowering our clients by offering them all the options for their future home. Once buyers know what options are available to them they can then make a well informed decision which may better suit their complete lifestyle and their finances.