More than ever Australian families choosing apartment living

Australia’s reorientation to apartment living, fuelled partially by young couples delaying families, the lifestyle-oriented boomers downsizing and increasingly more lone-person households; but is this the whole story?

It is certainly true that lone-person households are far more prevalent than most Australians realise. Out of the 9.9 million households in Australia reported during the 2016 census, more than 2 million of them (a quarter of all homes) were occupied by a sole person. Lone person households are the largest group of apartment dwellers; however, three-quarters of lone person households are still in either a detached house, attached house or townhouse.

The next largest cohort of households living in apartments are couples without children. More than a quarter of permanently occupied apartments in Australia contain this demographic. What may surprise readers is the existence of 143,489 couple families with children and 80,683 one parent families throughout Australia who also live in apartments. As a group, apartment-dwelling one family households increased by 34 per cent between 2006 and 2016, while the number of total households increased by just 18 per cent over the same time. This means apartment-dwelling families are not just growing in number, but also becoming a larger percentage of all Australian households.

This trend hasn’t been missed by some of Australia’s thinkers. Human geographers such as Sophie-May Kerr have been conducting research on the experiences of Australian families living with children in apartments. As population growth continues to stimulate demand for higher density living, property developers and landlords who take into account the unique nuances of families will be positioned to maximise their tenant and buyer pool. Some such factors include safety, noise mitigation and local amenities.

It will be interesting to observe how the growing rate of families living in apartments is further influenced by more and more cosmopolitan millennials reaching the child-rearing stage of their lives. Is this demographic likely to trade their lifestyle for more space in the suburbs, or take advantage of the increasing availability of family amenities in our cities.

*source BlueWealth Property

Posted in Buy, Latest news, News on 18th November, 2019