Ensure you never miss an issue of the
real estate business bulletin
Inner cities to remain popular

Inner cities to remain popular

by Vivienne Kelly 0 comments

Australia’s inner-city suburbs will remain a strong prospect for investors as both young families and downsizers gravitate towards apartment living, according to a 2014 property market forecast.

At the Property Council of Australia Residential Outlook 2014 yesterday, Brian White, chairman of Ray White, said the biggest recent property market trend in Australia was the move towards inner-city areas.

“We have such buoyant inner cities in Australia. I think that’s one of the biggest features that’s happened in my career, seeing the health, the vibrancy, the youth that’s come in, the families that are coming in. They’re making do with the smaller accommodation," he said.

“There’s this huge appeal now of inner cities in Australia that is in massive contrast to some of the greatest cities in the United States.”

Mr White said Australia’s inner cities were vastly different to those in the United States due to their health and education facilities and appeal to owners, investors and tenants alike.

Iwan Sunito, CEO of Crown Group, said the trend was part of a wider shift towards apartment living.

“I think we’re seeing a shift in the way that we live,” he said. “It’s a tipping point because I see a lot of the younger generations actually preferring to live in a unit.”

Mr Sunito said with Australia’s ageing population, the move to the inner city and apartment living would only intensify as baby boomers sell the family home and downsize.

Rod Fehring, executive manager, residential at Australand, said there had been a renaissance of inner-city urban areas on the back of planning and cultural changes which began in Australia in the 1980s.

Inner cities to remain popular
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?