Research by demographics company McCrindle for the Urban Taskforce has identified four emerging household types within the Sydney apartment market.
The four household types are Vertical Families, Cosmo Couples, Solo Metropolites, and One-Parent Families.
“With 30% of Sydney homes now being apartments, the Urban Taskforce undertook detailed research to find out which household types are preferring apartment living,” said Chris Johnson, CEO of Urban Taskforce.
“We were amazed to find out that 20% of the apartments are occupied by typical families and a further 8% are occupied by one-parent families. They choose apartment living due to access to public transport, affordability, safety and security, and access to schools and childcare.”
The Urban Taskforce commissioned McCrindle to undertake research into Sydney’s apartment dwellers by polling 1,500 individuals and by analysing 2016 census data.
“The research was stimulated by the growing concerns across Sydney about increased densities and the swing to apartment living,” Johnson said. “The concerns have been picked up by politicians who seem to have become nervous about apartment buildings generally. What the research shows is that normal families, couples without children, single people and one-parent families have welcomed the apartment life style with its access to amenities and public transport.”
The research also identified why each of the four household types chose apartment living (the company predicts that half of Sydney’s homes will be apartments within a generation), as well as the suburbs they prefer to live in.
This group represents 20% of apartment households;
- 61% are renters
- 64% are likely to be aged 23-37
- 58% are likely to travel to work by train and 36% by bus
- Their choice to live in an apartment was influenced by easy access to public transport (45%), affordability (43%), and safety and security (35%)
- Their preferred suburbs are Parramatta, Bankstown, Liverpool, Campsie, and Chatswood
This group represents 27% of apartment households;
- 52% are owners
- 43% are likely to be aged between 23-27
- 47% are likely to travel to work by train and 36% by bus
- Their choice to live in an apartment was influenced by easy access to public transport (59%), affordability (51%), and safety and security (31%)
- Their preferred suburbs are Randwick, Parramatta, Dee Why, Sydney, Waterloo, and Surry Hills
This group represents 34% of apartment households;
- 63% are renters
- 37% are likely to be aged 53-71
- 23% are retired
- Their choice to live in an apartment was influenced by easy access to public transport (47%), low maintenance (42%), and more affordable prices (35%)
- Their preferred suburbs are Mosman, Randwick, Surry Hills, Dee Why, Maroubra, and Sydney
This group represents 8% of apartment households;
NSW’s Housing Affordability Plan Tackles Supply
Sydney’s Next Move In The Property Cycle
- 78% are renting
- 49% are likely to be aged 38-52
- 39% work full time and 24% casually
- Their choice to live in an apartment was influenced by easy access to public transport (51%), affordability (46%), and proximity to schools and child care (39%)
- Their preferred suburbs are Liverpool, Bankstown, Dee Why, Campsie, Hurstville, and Chatswood
Top Suburbs :
east victoria park
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.
We value your privacy and treat all your information seriously - you can check out