The mixed property use is derived from sectional-title apartments, sectional-title townhouse complexes and freehold homes with some of the properties on main roads having been rezoned business or commercial use. These factors all contribute to the stable and growing property values.
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The mixed use of the suburb comprises apartments, sectional-title townhouses, freehold homes and a number of prime vacant stands along with surrounding security and lifestyle estates.
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The mixed property use caters for a large marker with a high demand for the various properties in the suburb depending on the budget and taste. Sectional-title townhouses are especially popular in the suburb due to the proximity of the suburb to amenities like major roads and industrial hubs.
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The more modern architecture is a feature of the suburb that will find favour with a large number of investors whom are fashion conscious. This factor is also important in the general property value of the suburb as finishings in the more modern homes are more up-to-date and costly.
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The mixed use of the property consists of freehold homes, sectional-title townhouse complexes, apartments, clusters and commercial property. Thus there is a broader base of interest in the suburb with the affordable townhouses and the more upmarket freehold homes for larger families.
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Demand for property in Erasmia was increased greatly by the development of lifestyle estates which have become fashionable in recent times. This has had the positive effect of setting new standards within the suburb’s newer homes where architecture is now influenced by the lifestyle estates. Thus the general aesthetics of the suburb has been lifted to that of a more upmarket suburb.
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There are various lifestyle estates which are a factor in driving the general property values which is a positive indication of the stability of the suburb as an investment prospect.
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The freehold homes are priced in line with market trends and prices are driven by demand. The architecture of the suburb is reminiscent of times when the suburb was established with some newer designed homes making up the suburb’s picture. The reasonably affordable homes are worth exploring with restoration and letting in mind as the returns on restored homes are rewarded with higher rental income and when restoration costs are played down against rental income the prospect seems more profitable.
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The architecture of the estates also drive the aesthetic appeal of the suburb with many of the older homes having been upgraded to mirror that of the estates further improving the marketability and appeal for homes in the suburb.
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Movement within the sectional-title market is higher than freehold homes which stems mostly from first time buyers upgrading to freehold family homes once the family starts to grow. Buy-to-let investments thus perform well in this market segment with stable returns and high demand.
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