Why apartment living is increasingly popular

REAL ESTATE
30-Oct-2019

With properties back on the rise and Melbourne auction clearance rates at 73.8 percent* – combined with an increased preference for inner city living, many Australians are foregoing the traditional dream of owning a house with a backyard. 

In Melbourne where the population is rapidly growing, and the increased demand for housing could lead to potential shortages in supply, people are now looking for premium locations within the CBD and moving up!

According to the Australian Bureau of Statistics’ Census of Population and Housing** 10% of all people in Australia now live in an apartment, and over the past 25 years the number of apartments has increased by 78%. Individuals from all walks of life - including retirees, couples and young families, are now choosing to live in an apartment for a variety of reasons, including lower costs, convenience, prime locations, security, and low maintenance. For apartment dwellers it's a whole new way of life. 

And who can blame them? City apartment living means easy access to the Melbourne CBD with its endless entertainment options, restaurants, bars, theatres and sports facilities – right on your doorstep.

Apartment living also enables residents’ access to many facilities that they would not normally be able to have in a regular house – such as swimming pools, private dining areas, cinemas, spas, rooftops gardens, BBQ areas, concierge services, gyms and even wine cellars.

In an era when time is precious, who wants to spend their spare time maintaining a house and garden? When you live in an apartment these tasks are carried out by the owners corporation or landlord, leaving residents with more time to do the things they want.

Apartment living provides many benefits including a real work life balance.

If you’re thinking of making the move to apartment living, we can help you find your perfect place – contact us on 9663 1117 for more information.

 

*source: https://www.corelogic.com.au/news/lowest-preliminary-clearance-rate-mid-august-recorded-across-combined-capital-cities?utm_source=newsletter&utm_medium=EDM&utm_campaign=pp_20191008&utm_content=pp_auction%20preview

**source: https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0~2016~Main%20Features~Apartment%20Living~20


 

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