2017 is rapidly coming to a close, so it’s time to start looking ahead to 2018’s biggest property trends…
Sprucing up the homestead – Renovesting
This bizarre hybrid of renovation and reinvesting applies to property owners who find themselves limited when it comes to upgrading to a bigger property.
‘Renovesting’ is a term particularly applied to Australia, where despite a respectable stock of houses, high prices prevent many from moving up the property ladder.
Giving an insight into the situation, Finder.com.au Insights Manager Graham Cooke has said;
‘With the property ladder becoming increasingly difficult to climb, we may see more “renovesting” in 2018; adding value to current properties through renovations’.
Improving a worn-down home is always a solid option for increasing the resale value, and there are limitless possibilities for the enthusiastic renovator, whether it’s slapping a new coat of paint on everything or turning the underside of a staircase into handy storage space.
Storage-based additions are increasingly popular at a time when efficiency is key – safe bets include baseboard drawers in the kitchen or wine racks in previously unused wall space.
For the more adventurous, you could consider adding convenient chutes for kitchen waste, sunken seating areas or hidden rooms (accessed via bookcases, of course).
Homes are getting smarter – Automation
You might be sick to death of hearing about home assistants-this and smart technology-that, but some property analysts think that 2018 could be the real year of automation.
Closer integration is expected to be the main trend of the year, as designers do their best to make as many devices and systems as compatible with others as possible.
As smart technology and automation become more prolific, competition is expected to increase, meaning prices should theoretically fall.
This might lead to new builds having automated features built-in, which could bump up prices initially but increase everyday ease of living.
Expect to see doorbells with cameras, ‘intelligent’ thermostats and the ubiquitous home assistant becoming more dominant in the year ahead.
The Brexit effect – Will there be a rush on European properties?
The UK won’t officially exit the EU until March 2019, but 2018 could still bring an intensification of the Brexit effect on UK and EU property markets.
As details relating to property ownership in Europe have yet to be solidified, the uncertainty of whether UK citizens will be able to purchase and sell property with the same ease as before Brexit could lead to some panic buying of European properties as people snap up their dream homes before any ownership restrictions are introduced.
Remember to keep an eye on the Everything Overseas blog in 2018 if you want to keep track of the latest property news, insights and innovations.