Embracing apartment living


More Melburnians are embracing apartment living.

And it’s not just empty-nesters, young professionals and students. Statistics shows that there is an increasing amount of families choosing to create the family home, not in a house but in an apartment.

Census data from 2011 shows families with children made up 21.4 per cent of households in Melbourne’s CBD in the 2011 compared with 17.4 per cent in the 2006.

With the increase in house prices showing no signs of abating, Melburnians (and Australians in general) are recognising in greater numbers the fantastic value – and not just in terms of price – of well-situated inner city and inner suburban apartments.

So with the popularity of apartments on the increase, we look at why you too should consider embracing apartment living.

Better quality amenities

Just think of all those inner city amenities. Even better, with abundant public transport options, think of not having to find a park when you visit them.

Melbourne’s inner suburbs have some of the best shopping, parks, bars, restaurants, bars, and sporting and entertainment facilities in the country.

And when you live close to them, many will become an extension of your own home. Sounds good doesn’t it?

Melbourne’s Fitzroy Gardens – not a bad alternative to a backyard

Melbourne’s Fitzroy Gardens – not a bad alternative to a backyard

Price

There’s no doubt that when it comes to buying inner city property, apartment living makes most suburbs a lot more accessible.

For example, in the highly sought-after suburb of South Yarra, the median price for a two bedroom house is $1.23 million. On the other hand, the median price for a two bedroom unit is $636,750.

Besides the savings you can make on the actual property, there is the savings that can come from a reduced reliance on the car and more regular use of public transport. Additionally, significant savings come in the form of energy costs.

A 2013 study by the US Energy Information Administration found that households in apartment buildings with five or more units use much less energy than the average for all households. The study found that about 17% of all US households were in apartment buildings with five or more units, however these households only used 9% of all energy consumed in homes.

Apartment buildings with five or more apartments use much less energy than standalone homes.

Apartment buildings with five or more apartments use much less energy than standalone homes.

Little Maintenance

No backyard means no pulling out weeds, raking leaves and watering plants. With communal space looked after by an owners corporation, small outside issues do not need your attending. This gives you more time do whatever you like.

Better Safety

With all the security of an apartment building your treasured belongings are significantly safer in an apartment than in house. Front doors that are secured by a pass or code offer a great defence and basically, unless you’re on the ground floor, you’ll never have to worry about windows being open.


1. South Yarra suburb profile
2. South Yarra suburb profile
3. Apartments in buildings with 5 or more units use less energy than other home types

Suburb Profile Quicklinks

Kew Sitting at one of the highest points in Melbourne, 6km...
Hawthorn Located just six kilometres from the city, Hawthorn is one...
Glen Waverley Glen Waverley, located 20kms south-east of the city, is one...
Balwyn Located 10kms from the city in Melbourne’s east is the...
Albert Park Located only ten minutes from the city, Albert Park is...
South Yarra Dotted with world-class restaurants, boutique fashion stores and trendy cafes,...
Brighton East Located 11kms from Melbourne’s CBD, Brighton East is wonderfully relaxed...
Southbank Southbank is home to some of Australia’s tallest apartment buildings...
Carrum Downs Carrum Downs is a relaxed, family orientated suburb that offers...
St Kilda Located right on Port Philip Bay and only six kilometres...
Melbourne CBD The city of Melbourne is one of Australia’s leading property...
Get the latest news sent straight to your inbox

By providing your details, you agree that LK Property Group can contact you about current and future projects. You also agree that we can disclose your information to third parties so they can contact you also about their projects.