Apartment Living is More Attractive than Ever

Apartment living has become more attractive than ever.

With cheaper price points, along with complexes adding conveniences of parking, gyms and pools, people are diving in with a view to save in the long run.

Apartments are adding more and more housing stock across Sydney and NSW with first home buyers, investors and downsizers jumping on board.

It comes as apartment sales are holding strong across the Harbour City with developer and builder ALAND on track to deliver 652 new homes this year.

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 work and public transport, with trains and buses usually at their doorstep

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.