A shortage of inner suburban land for sale over the last 18 months amid surging homeowner and investor demand means property developers have had fewer options to choose from when scoping out their next project.
As property developers need larger sized blocks to accommodate their building plans, often in times of shortage they look to persuade residents of adjoining blocks to sell up.
If successful, the current dwellings are knocked down and replaced with multi-unit blocks.
So what should you do if a property developer comes knocking on your door? Well, it’s time to have the neighbours around for a cuppa!