Key takeaways
Old myth busted: Property development isn’t just the domain of cashed-up tycoons anymore.
Everyday Australians—teachers, retirees, and professionals—are now actively getting involved.
Thanks to changing market dynamics, access to education, and smarter financing, development is more accessible than ever.
For decades, property development has been perceived as the exclusive domain of the ultra-wealthy, those with deep pockets, vast land holdings, and access to elite financial networks.
But this myth is not only outdated, it’s actively misleading.
Today, property development is more accessible than ever, and it’s not just about building high-rise towers or sprawling duplex estates.
It’s about recognising and unlocking the hidden potential in everyday properties.
Redefining property development
At its core, property development is the business of changing the use of a property to a higher and better use.
This doesn’t always mean new construction. It can include:
- Renovations and refurbishments
- Reconfiguring layouts for better functionality
- Upgrading finishes and fixtures
- Converting underutilised spaces
- Subdividing land or repurposing existing structures
As outlined at Metropole’s recent Ultimate Property Development Workshop, successful developers are not just builders—they’re strategists.
They identify opportunities, assemble skilled teams, and coordinate efforts to transform properties into more valuable assets.
The power of “highest and best use”
One of the most powerful concepts in development is Highest and Best Use.
This principle asserts that the value of a property is directly tied to its optimal use.
If a property is currently underutilised, say, a single dwelling on a large block, it may be worth significantly more if reconfigured or repurposed.
Determining Highest and Best Use involves assessing:
- Physical possibilities: What can be done given the site’s size, shape, and topography?
- Legal permissions: What zoning, overlays, and title restrictions apply?
- Financial feasibility: Will the project deliver a return that justifies the risk?
Statistics that tell the real story
Recent data from the Australian Bureau of Statistics and KPMG Australia reveal a compelling shift in the property landscape:
- Renovations now account for 40% of all residential construction spend, up from 34.2% in 2018–19.
- New private residential construction is at its lowest per capita level since 1987–88, indicating a pivot away from large-scale builds.
- In Victoria, 6% of new residential construction is one-for-one replacements, where a single home is demolished and rebuilt—often with significant value uplift.
- The total number of dwelling units commenced in Australia rose 11.7%in the March 2025 quarter, driven largely by smaller-scale developments.
These trends show that Australians are increasingly choosing to add value through renovation and redevelopment, rather than pursuing high-density builds.
The developer’s role—accessible, not exclusive
Property developers are like movie producers.
They don’t need to swing the hammer themselves—they need to:
- Lead and coordinate a team.
- Take calculated financial risks.
- Navigate approvals and compliance.
- Understand market dynamics.
- Make strategic decisions that maximise value.
This role is increasingly being filled by everyday Australians – teachers, doctors, and retirees – who see property development as a pathway to financial independence.
If you’ve ever thought property development was out of reach, think again.
Whether it’s a renovation, a subdivision, or a strategic rebuild, you have the tools to start creating value today.
My suggested next steps are:
- Start with a plan – understand your reason why you want to get involved in property development.
- Build your team – property strategist, project managers, architects, planners, builders, and advisors.
- Understand your finance capacity to get the correct ownership structures in place before starting to look for a property.
- Before purchasing a specific property, conduct a detailed feasibility study to understand your financial numbers and associated risks.
- Explore the property’s highest and best use—what could it become?
- Take action—even small steps can lead to big outcomes.
At Metropole, we specialise in helping everyday Australians become successful developers.
Whether you’re just starting out or ready to scale, we’re here to guide you every step of the way.
If you’re interested in getting involved at the “wholesale” end of the property market, we’ll help you become a property developer.
Click here now and discover how, over the last 3 decades, Metropole has helped ordinary property investors become “armchair developers.”
Let’s have a chat and see if this service would be suitable for you. Just leave us your details here.
About Greg Hankinson Greg and his team have successfully built and renovated in excess of 500 homes throughout Melbourne and are showing no signs of slowing down anytime soon. Being a Gold member of the Housing Industry Association and National Kitchen and Bathrooms Association, Greg’s focus is on Continued Professional Development, not only for himself, but his team of industry experts.
