A new demographic of buyers has emerged on the lower north shore, valuing lifestyle and convenience over land size.
According to a recent article on realestate.com.au a new demographic of buyers has emerged on the lower north shore, valuing lifestyle and convenience over land size, yet they are still a long way off retiring.
Aged in their mid-40s or mid-50s and still with children living at home, these young downsizers are leaving behind their family homes and snapping up luxury apartments.
Increase in apartments
Realestate.com.au data shows a 30 per cent increase in the number of apartments on the market on the lower north shore, compared to four years ago.
Waverton, North Sydney and Crows Nest are among the suburbs leading the charge with an increase in apartment listings by 40-50 per cent.
There is a strong demand for large lifestyle apartments and townhouses with enough space for families with little land to look after.
People are trading off large blocks of land for location, private commute for public transport and large for more affordable places.