Harry Triguboff has designs on inner suburban townhouses

Mr Triguboff reckons there’s huge demand from families for multi-level luxury terrace houses and he is developing more than 50 of them across the Sydney suburbs of Zetland and Pagewood.

Meriton Apartments is developing 11 townhomes in Zetland priced from $2.665m and has already sold five of these strata-titled properties.

The three and four-storey townhouses each come with an internal private lift and are expected to be completed by early next year. There are three bedrooms and three bedrooms-plus-study options.

In nearby Pagewood, Meriton is developing 42 torrens-title townhouses. The two-level townhouses, which are yet to hit the market, will have private street entries with rear lane double garage access and are expected to be completed by late 2023.

Meriton has three and four-bedroom options, while eight of the townhouses will include a luxury self-contained studio or granny flat above the rear double garage.

It could also be used as a teenagers’ retreat or additional income stream.

The other 34 townhouses have alfresco rooftop terraces above the garages for entertaining.

The three-bedroom townhouses are priced from $2.6m while the four-bedders are priced from $2.75m. The energy-efficient homes will be equipped with solar panels, LED lighting and provisions for EV charging stations, and will be released to market within two weeks.

Mr Triguboff said there was “enormous demand” for townhouses – particularly from families – adding that the ones he builds come with their own titles.

“That’s the advantage of these townhouses,’’ he said.

Meanwhile, Mr Triguboff said prices were starting to rise while housing production – particularly in NSW – was at a low point.

“I build by far the most units in Sydney, but I am not buying any land and I will not buy any unless the government changes its attitude. I never did this before,” he said.

Mr Triguboff said that although Sydney’s residential market was in the doldrums, prices around the Gold Coast had risen about 30 per cent of late.

“The prices in the Gold Coast are catching up to Sydney. The land is cheaper in Queensland so some profit can be made and we save a lot of money when we build there. There are no delays, and there is certainty for us. In Queensland we are with friends.”

Mr Triguboff added that Queensland had the climate and a “decent culture”.

“In Queensland it is less risky to build. We know what to expect. And we find out quickly whether our proposals are acceptable. In NSW nobody knows what and when the project will be approved … and the banks are very scared to lend in Sydney.

“But in NSW it was always difficult. Sometimes we had courageous ministers and we got some reasonable approvals. In some councils we have courageous planners and town clerks (managers) but that is an exception and even they cannot make it attractive enough to build.

“It is very good that we propose to reinstate migration. Migration means bringing young people. They immediately produce. They immediately spend. A child that is born here will take 20 years before he (or she) can work or spend. Australia needs people.

“With our size and resources we must have more people otherwise we are forever looking for a big brother.”

*The story by Lisa Allen first appeared on The Australian.