Interest has increased in the Eltham and Doncaster area for knock down rebuilds of late I believe due to the average of home owning residents looking to retirement. Many are caught up with not as much superannuation as they would like so a knock down rebuild looks very feasible.

By building 2 townhouses on their land they can gain a sizeable nest egg to purchase a suitable smaller home. With the build cost of two good size townhouses coming in at around $650k and the average sale price for a townhouse at around $800k. You can see why many are cashing in their land asset with knock down rebuilds.