More Australians are choosing to rebuild on their existing properties rather than relocate, according to a major real estate chain.

PRDnationwide managing director Tony Brasier says there is “a lot more of
 (the knockdown-rebuild) happening right across the eastern states.

There are many pluses in retaining your block of land and putting a new home on it.

“The knockdown-rebuild market is vibrant and growing,” Mr Brasier says. “Our figures show that that there has been a 25 per cent increase in the number of those deciding to stay put and rebuild in the capital cities in the last three to four years.”

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He adds that most of the knockdown-rebuild market is concentrated in established suburbs within 20km of central business districts. Mr Brasier says it is “more economically viable” for many people to stay put rather than to relocate given the costs of purchasing a block of land relatively close to Australia’s capital cities.

“The lack of availability of land to be developed in areas closer to the CBD means it is very hard to find a block of land to build on,’’ he says.

Mr Brasier says there are many pluses in retaining your block of land and putting a new home on it.

These include staying close to schools in which the property owners’ children attend, remaining near family, friends and sporting/social networks as well as getting a better quality, more contemporary home with more space and better fixtures and fittings.

“They (the owners) are also leveraging off the increased value of their land,” Mr Brasier says. “You have a brand new home on a good piece of land in a well established suburb, appreciating in value.”

The former Real Estate Institute of Australia president says the knockdown-rebuild process generally will take six to nine months before the property owner can move into a new home.

He says the owner will have to negotiate a process, which includes obtaining council permits, paying demolition costs as well as building expenses. “You may have to go through a fairly detailed process to build a new home on your block but it will be worthwhile in the long run,’’ Mr Brasier says.

He points out that several volume builders can provide upmarket housing products, which cost much less than that constructed by boutique builders. “For example in the Sydney suburb of Epping you can get a new home for around $500,000 on a piece of land valued between $900,000 and $1.2 million.”

Mr Brasier says suburbs in Sydney where knockdown-rebuild is popular include Epping, Concord and Kogarah. In Melbourne the market includes eastern suburbs such as Balwyn, Hawthorn, Hawthorn East, Greythorne, Mitcham, and Ringwood as well as bayside suburbs such as Sandringham, Hampton, Brighton, Blackrock, Aspendale and Mordialloc.

Tony Brasier is a distant relative of the author. The pair have never met.