How one homeowner downsized without moving an inch – realestate.com.au

South Sydney is being flooded with duplexes, although demand still exceeds supply, prompting one owner to develop their own block.

Walking through Sydney’s Sutherland Shire as a 16-year-old with a surfboard under his arm, Craig Hayes told his mate: “I love this street. Hopefully one day I’ll live on it.”

Decades later, he does. Now 67, he has spent 42 years on Northcote Avenue in Caringbah South, a quiet, leafy street that meanders to the waterfront Burraneer Park and the local boat ramp.

With the children long gone, he and his wife Lyn wanted a smaller house and a smaller block to care for, but they couldn’t bear to leave the street.

Instead, they redeveloped their block: demolished the old family home and built two almost identical new houses.

For them, the numbers stacked up: Because Mr. Hayes and his son were both builders, the couple could build at cost, then sell one house to pay off the loan and increase retirement savings, and live in the other.

They can also furnish their new home in such a way that it suits their current life.

“Everything is new, it will last for years, and the elevator makes it easy to get up at our age,” Hayes said.

12B Northcote Avenue offers low-maintenance living while still providing ample space for an extended family. Image: realestate.com.au

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He knows other people in the area who develop their own blocks.

“People are building duplexes or two-detached houses, like ours. They prefer to avoid the strata rates that come with apartments. By staying on their own block, they have control – and that’s very appealing.”

Now that the two new homes have been completed, 12b Northcote Avenue, Caringbah South is on the market for $3 million.

Features such as an internal lift appeal to downsizers. Image: realestate.com.au

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The four-bedroom, three-bathroom detached house is bright and white and covers 214 m² with high ceilings, a sun-drenched atrium and oak, travertine and stone finishes.

Multiple living areas connect to a sleek kitchen with butler’s pantry and a covered, open-air terrace overlooking the pool, which features a Weber gas barbecue, wok stove and Husky bar fridge.

European oak, travertine and limestone tiles and hand-cut Italian tiles are among the quality finishes. Image: realestate.com.au

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Designed for older buyers. There is a lift and a bedroom with a full bathroom on the ground floor, plus video intercom and security access.

Agent Breanna Teuma of Alex Pitsis Group Cronulla said the property is attracting strong interest halfway through the auction campaign.

“It’s lovely and airy – and because it’s detached it feels very separate from the neighbours.”

Buy or develop a duplex?

Duplex redevelopments have grown in popularity across Sydney, especially in southern suburbs such as the Sutherland Shire, where original blocks of 400 to 700 sq m and favorable zoning regulations make double occupancy easy.

David Smith of Highland Sutherland Shire and St George said many locals with large blocks are now selling to developers who can pay a premium.

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And buyers can’t get enough of duplexes or smaller detached homes with subdivisions.

“The demand among downsizers is huge,” he said. “People don’t want to leave the Shire; they just want a simpler house with less maintenance, maybe still a backyard and a pool. A duplex is perfect: it’s a scaled-down version of the family home.”

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Ms Teuma adds that many buyers buy blocks specifically for splitting up and rebuilding.

“Some build right away, sell one and live in another. I’ve seen friends buy together so they can live next to each other.”

Detached double developments are much rarer than duplexes. Image: realestate.com.au

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But she said long-term owners rarely develop their own land like the Hayes.

“Most people simply don’t have the money. They have to sell first to finance new construction.”

Developing dual occupancy may involve upfront costs for materials, permits and subdivision, while municipal approvals may take some time.

46a Woolooware Road, Woolooware will be auctioned in March. Image: realestate.com.au

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Mr Smith agreed that self-development rarely works out well financially unless you are a builder.

“They’re better off selling the original property and buying a finished duplex that’s ready to go, without all the expense, time and stress,” he said.

“Most would rather move into an already built duplex than build one themselves.”