My housing prediction for 2013
We’re just a few weeks into the New Year so I thought what better time than to state my predictions for 2013. Now I’m not claiming to be Nostradamus, but I am willing to peer into the crystal ball and make a few predictions about building design and the housing market in general for the coming 12 months.
Now before I go any further I need to state that nothing that I write in this article should be taken as advice. It is only me having a guess. There is a chance that everything that I write in this article could turn out to be wrong. This article is not designed to be financial advice, I am not a financial advisor and I do not offer financial advice. I would recommend you seek professional financial advice from your accountant or financial advisor before proceeding with any financial plan or action.
So now that I have covered myself, here are my predictions …
Expect to see a steady recovery in the property market. The global economy will still be shaky at different times during the year with Europe still a major cause for concern. However the US government showing a willingness to avoid defaulting on their debt repayments is a positive sign moving forward.
Bricks & Mortar will become a popular investment. Because of some global uncertainty investors will look to the security of bricks and mortar. Property prices have been down a little making it a buyer’s market; however expect that trend to begin to turn around in the latter half of this year as ongoing low interest rates start to tempt more buyers back into the market.
Building costs to increase. As a result of an improving property market expect to see building projects increase with builders potentially looking to increase prices to make up for lost revenue in recent years as a result. Similarly expect to see the cost of building materials rise towards the later part of the year as demand starts to once again grow.
Early in the year the best time to renovate or build. In terms of architecture 2013 will be a great time to build or renovate, with the first half of the year potentially offering the best results in terms of lower costs as competition among builders remains keen.
Bigger market for homes with ‘Wow Factor’. In a slower market properties with something of a ‘wow factor’ have a distinct advantage over those that resemble every other house in the street; so expect to see designs continue to focus on eye catching spaces that truly stand out whilst being completely functional.
Greater focus on sustainable, low consumption designs. Power prices will continue to rise resulting in a strong focus on eco-friendly, energy efficient home designs. Natural lighting and cooling will become a major consideration in all new homes and renovations.
Innovation in sun screening. Prevention is always better than cure and in the case of power prices, preventing your home from heating excessively is always preferable to trying to cool an already hot house. With this in mind expect to see designs start to focus on ways to keep the harsh summer sun off walls whilst still letting natural light in. And given that it’s 2013, expect to see some innovative shading options beyond your traditional verandahs, eaves, trees and shade sails.
More time spent outdoors. I predict that there will be less rainy days through 2013 and despite the hot start to the year, the temperature overall will be more pleasant with plenty of mild sunny days throughout the year. As a result indoor/outdoor rooms will continue to be hugely popular in home designs through 2013.
So there you have it, just a few predictions to start off 2013. All indicators show that 2013 will be a good year for the property market as a whole, making it a great time to invest in your own home. Construction prices are ultra competitive but I don’t expect that to last forever, so if you’re thinking of building or renovating the time to start is now.
I can’t wait to see how the year pans out.