The Sydney real estate market makes it more difficult to move and force more families in smaller houses.
In some cases, families sacrifice the space of a traditional house in exchange for a more affordable, more manageable apartment that prioritizes the convenience of a location in the city center.
A Finder survey from 2023 showed that one in 10 Australians – equivalent to 662,000 households – had either moved back home with their parents or a mature child returned home last year.
The leading reasons were rising rents and the possibility to save money for a house pay.
Ray White Lower North Shore Group Director of Projects and Developments Tim Abbott.
Ray White Lower North Shore director Tim Abbott said that it became more a trend for families with older children in high school or university to choose to live in apartments.
“There is quite a growing demand for that,” he said. “I think that is logical that they have a home that is large enough, that is a comfortable size for the children to stay – because children now stay a little longer while saving themselves for a home.”
Abbott said that the convenience and location were two of the most important drawcards for families who bought a unit.
“There is ease in the fact that they don’t have to do the maintenance, and the fact that they can simply be locked and leave,” he said. “But also the proximity of the city, especially when the children are at the university or at school.
“Being in a handy location with those attributes is pretty attractive – not for everyone – but certainly for a growing number.”
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Jane Turner (center) with husband Ward Swadling and daughter Lucy in their apartment in Erskineville. Photo: Britta Campion
Jane Turner and her husband bought an apartment in Erskineville for $ 1.01 million in 2017, after their house of 23 years in the area.
They wanted to shrink and release some capital, but still wanted to stay in the west. Their daughter Lucy, 24 years old, lives with them in their unit with two bedrooms.
Although Mrs. Turner is happy with the amount of space, she said that this was not the case for everyone.
“Some apartments you see now, the rooms are so small,” she said.
“Even if they are two bedrooms and they have two bathrooms, it really can’t be compared to the type of space we have here, which is in no way huge.”
Mrs. Turner said it would be “great” if her daughter “could move” because of us “.
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The family has been living in the apartment since 2017. Photo: Britta Campion/The Australian.
However, the reality is that so many young people cannot afford to leave the house.
“Now, how could our daughter be able to, even if she gets a few friends to share the rent with her … There is no way they can afford it,” said Mrs. Turner.
“I remember that in my day … We would all rent a place in Darlinghurst or something with four or five friends and it was completely affordable.”
Another disadvantage of AppartementWonen for Mrs. Turner was Strata costs, which have almost doubled since she first bought the building.
“Our layers initially were about the equivalent of $ 150 a week,” she said.
“It’s fair enough because it makes our living conditions more comfortable.
“Then they had to do roofing, so then our layers doubled almost with very little notification. They are now almost $ 300 a week.”
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Willoughby Grounds, a sub -designed condominium complex in Willoughby.
Mrs. Turner said that her husband eventually wants to use Lucy’s bedroom as a studio, so that he can strive for his passion for painting.
“I think we’ll be in danger there,” she said. “But we are not going to kick our daughter out because there is no bloody way she can afford to rent.”
Despite these compromises, Mrs. Turner said that the financial and personal freedom to move to an apartment eventually improved the quality of life of her family.
“I didn’t look back,” she said. “I just enjoy living here.”
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The complex offers apartments with three bedrooms and four bedrooms to address families.
Given the demand, real estate developers are increasingly facing the market for families.
Developments such as the Willoughby Grounds on the lower classes on the lower North Shore of Sydney offer units of three and four bedrooms in the hope of addressing this crowd.
Abbott said these apartments were priced of $ 2.7 million- $ 3.5 million.
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