The Rise of Apartment Living in Australia
Australia is witnessing a prevalent surge in the popularity of high-density living; more Australians than ever are embracing apartments as their homes. The Census of Population and Housing conducted in 2016 observed that 10% of all people in Australia spent Census night in an apartment. From the results of the survey, the Australian Bureau of Statistics (ABS) estimates that there is approximately one occupied apartment for every five occupied houses, compared to one in seven in 1991.
The latest findings on high-density developments in November 2017 from the ABS revealed a 30.6% rise in apartment approvals, indicating a surge in popularity of apartment living will continue to sculpt our urban areas.
As a prominent leader in Australia’s property development, we are excited for the opportunities this shift presents, not only for homeowners and developers, but for the future of Australia’s flourishing cities.
We have cited some of the most significant findings relating to the rise of apartment living, to provide insight on our thriving and ever-changing industry:
Australia has seen an increase of apartment living by 78% in the past 25 years. Predominantly an urban phenomenon, the increase of apartment living is focused within Australia’s main capital cities. Of all the inhabited apartments throughout the country in 2016, 47% were located in New South Wales, 23% in Victoria and 17% in Queensland.
According to 2016 census, 29% of all apartment residents fell within the 25-34 age group. Nearly 44% of the high-density living population is comprised of families with children.
Individuals may choose to live in an apartment over a house for a myriad of reasons. Here are some of the primary motives:
Apartments enable buyers to not only live in a home they love, but in an ideal location as well. As a result, residents do not have to compromise location for comfort. Apartment living places purchasers within a hub of attractions, high-employment sites, amenities and transportation. The Reserve Bank of Australia’s June Quarter 2017 Bulletin found that location was a significant factor driving individuals to purchase apartments. The report states that “new apartments are generally located in established suburbs close to employment and services, while new houses are often built in greenfield areas that may be awaiting infrastructure and other amenities”.
Since amenities are progressively becoming the means by which developments differentiate themselves from competitors, many high-density complexes offer an array of integrated facilities that enhance residents’ quality of life and create unique living experiences. This means buyers may be downsizing their homes but are maximising their lifestyle in the process. See link below to discover why amenities have become the newest quality indicator and value differentiator for high density projects.
Sense of community
As a result of living in a close vicinity to their neighbours, as well as the integration of communal facilities within many developments, apartment sites generally encourage and enhance a sense of community that can be difficult to replicate in separate houses. This neighbourhood dynamic additionally increases a sense of safety for residents.
Enhanced safety and security
Apartment complexes invest in the safety of their residents through the installation of security systems. Generally, developments feature multiple layers of entry before reaching the front door of an apartment. The close proximity of neighbours adds to the sense of safety residents feel as a result of living in a high-density development.
We anticipate that the 2021 Census will report on a further increase in the popularity of high-density living, as innovative and steadfast industry leaders like ourselves continue to deliver accessible, high-quality and premium-grade apartment living opportunities for Australians.