Is the dream of owning a quarter-acre block still alive?

Does size still matter when it comes to block size or have contemporary Canberran lifestyles downsized to meet new aspirations?

The answer is not completely clear-cut, but whatever the choice it comes down to one driver: buyer motivation.

Holly Komorowski, of home.byholly, says 1000-square-metre blocks used to be the gold standard, but lifestyle demands have changed and certain buyers now placed a higher value on manageable-sized blocks.

“It’s hard to be completely prescriptive, but there’s certainly plenty of buyers who value a smaller block that requires less maintenance,” she says.

“If they’ve got children, they’ll balance that by choosing a home close to parkland or other recreational amenities.”

Komorowski says older, inner established suburbs offer traditional-sized blocks and are sought-after, particularly by families.

“Bigger blocks lend themselves to greater entertaining and play options and provide that sense of space and privacy that people value,” she says.

Justine Burke, of Luton Properties Weston Creek and Molonglo Valley, says a big factor in block choice is what people are used to.

“If you grew up living in a home on a big block that can be a driving factor in your buying choice,” she says.

“But lifestyles are changing and a lot of younger buyers are placing a premium on a new home on a smaller block.”

Burke says land size is a big factor in Weston Creek and blocks in the 700 square metre-900 square metre range are highly sought after as are bigger blocks in Denman Prospect.

SUPERSIZE OR MINIMISE?

• Motivation. Block choice should really be decided on aspirations. Are you after a faster appreciating asset or would a smaller block deliver more lifestyle flexibility – less maintenance and more family or couples’ time?
• Location. Many early Canberra suburbs were built around the Australian dream of the quarter acre block (1000 square metres). Factors include personal preference, budget and proximity to work, shops, schools and transport.
• Budget. Big blocks are usually associated with older homes in established suburbs. Land can often be more valuable than the building and a renovation or extension budget may need to be factored in.

PROPERTIES ON THE MARKET ON LARGE BLOCKS

GRIFFITH

26 JANSZ CRESCENT

PRICE GUIDE: $1.45 million +

4 bed 1 bath 1 parking

BARTON

5 YOUNG STREET

PRICE GUIDE: $1.1 million +

3 bed 2 bath 2 parking

CHAPMAN

4 BANVARD PLACE

PRICE GUIDE: $700,000 +

3 bed 1 bath 1 parking