As more people choose to live in city apartments, we are seeing a greater range of developments that are carefully designed to deliver relaxation, exercise, convenience and comfortable living, without the upkeep associated with a traditional house in the suburbs.
So why are more and more people are choosing city convenience over a quarter acre block?
Convenience and time
As property prices have crept ever upwards and cities sprawled outwards, opting for the suburban dream — a big house with a garden — has meant long commutes for many homeowners. With so much choice now available in the apartment market, it makes sense for many of these workers to move closer to the city instead.
As well as saving on commuting costs, a low-maintenance apartment in a great central location frees up time for residents. This is a trend that has been slowly climbing upwards across Australia. According to the Australian Bureau of Statistics, in 1991 there was one apartment for every seven houses. In the 2016 census, there was one apartment for every five homes, and around ten per cent of all people in Australia spent Census night in an apartment.
Almost half of these apartments are one-family homes, often with children, and most are located within capital cities. Families with children now comprise a quarter of Australia’s apartment-dwelling population, a figure that has increased by 56 per cent between 2011 and 2016.
For empty nesters, a large house often no longer makes sense, especially if they are still working in the city or enjoy an active social life. For families, apartment living can offer greater community support, amenities and convenience without the need for a car, while also allowing for a short commute to work and more time spent with loved ones.
The city at your fingertips
In the central suburbs of Sydney, where we have our office, it’s not hard to see why people are increasingly drawn to apartment living. From the beautiful oasis of Hyde Park to fine restaurants, exclusive shopping and a world-class cafe culture, Sydney’s inner city is uniquely special, and we love helping our clients buy and sell here.
An inner-city apartment offers you the best of both worlds — all the convenience of city living plus your very own base to return to after work or going out. What you lose in size, you gain in location and lifestyle.
Luxury and home comforts
Modern apartment dwelling is changing as developers respond to the need to cater not just to young professionals but also the families and downsizers who will increasingly call the city home.
The best of both worlds is an apartment that provides everything you need within walking distance, paired with innovative design and comfortable, contemporary living. Talk to us about the new apartments we have listed that deliver added extras such as communal gardens, swimming pools and tennis courts.
Learn more about investing in an inner-city apartment
For investors, thinking about your potential tenants is key to a successful purchase. As agents who specialise in Sydney’s inner city, we can tell you the kinds of tenants who are looking to live in different areas, and introduce you to some of the most innovative and well-designed new developments currently available.
For owner-occupiers, we have a great range of properties available to suit your lifestyle and budget. We also have our finger on the pulse when it comes to new-to-market properties, so feel free to give us a call today if you are thinking of moving into the city and want to get an overview of what’s available now or in the future.