The benefits of inner-city living

Market Insights
4 months ago
5 minutes

Covid caused Australian cities to dwindle in population while regional and coastal areas started to burst at the seams with an influx of interstate migration. So, has the great escape now flipped on its head? Apartments & Developments spoke to developers Cavcorp and Kincrest to find out.

Since losing population during the pandemic, Australia’s capital cities have seen significant growth of over 205,400 people in 2021 and 2022. Data collected by the Australian Bureau of Statistics state that this growth comprised overseas migration, natural increase, and internal migration.

Brisbane saw the largest population growth with an increase of 59,200 people, with Melbourne coming in second with an increase of 55,000 new residents.

Brisbane property developer Cavcorp, who has won awards for its inner-city residential apartments, said it has witnessed an increase in inner-city dwellers in Brisbane, specifically those looking for homes in the city’s blue-chip suburbs.

“We definitely have seen a huge shift in not only the demographic of buyers, but the volume of which these buyers are coming into these highly-coveted lifestyle suburbs of Newstead and Teneriffe,” said Cavcorp Sales Manager Ari Shahbazifar.

Luminare in Newstead is within walking distance of local must-haves. Click here to learn more.

Located in sought-after Newstead – an inner northern riverside suburb of Brisbane, is Cavcorp’s latest residential collection, Luminare. Positioned in the prestigious Gasworks precinct, Luminare is just a stroll away from local must-haves such as Total Fusion Platinum, The Standard Market, Gasworks Woolworths, James Street, and more.

Catering to those in search of the convenience and vibrance of inner-city living, Luminare is also located next to Australia’s largest health club, the new Long Island precinct. With Teneriffe Hill, the fabled Teneriffe River Walk, ample transport options, and top restaurants such as Beccofino and sAme sAme also nearby, it is easy to see why so many seek this urban way of life.

Melbourne-based developer Kincrest, with extensive experience delivering high-quality luxury dwellings in and around Melbourne, has also witnessed the demand for inner-city living in the Victorian capital.

“We've witnessed a distinct change in the demand for inner-city living, with various homebuyers, specifically empty nesters and downsizers, embracing the appeal of a low-maintenance, convenient, and secure lifestyle,” said Tom Howgate, Director of Kincrest.

“This shift really shows how city life is changing and provides a fresh start to affording downsizers as they move into the next chapter of their lives.”

Enjoy sweeping Melbourne city views from your home in The Watson by Kincrest.

Kincrest’s Essendon project, The Watson, caters to these downsizers with 37 spacious residences in a relaxed and friendly inner-city community.

Convenience comes easy to these addresses, where residents are just a minute’s walk from buzzing neighbourhoods like the North Essendon precinct with over 200 shops including cafes, restaurants, gyms, banks, Australia Post, and retail outlets. And because they live in urban areas, green spaces such as Lincoln Park and Allison Park are also just a one-minute walk away, with various transport options that reduce commute times.

Developers like Kincrest and Cavcorp have clearly understood the value and demand for these locations. Still, they take it a step further by creating homes that reflect and enhance their addresses.

“Three-bedroom homes on quarter-acre blocks in the suburbs are no longer the Australian dream,” explained Ari.

“That's not just because of the housing market; it's also because people's lifestyles and goals are changing dramatically.”

Each house-sized residence at Luminare boasts a commercial-grade kitchen and expansive balconies. Click here to learn more.

Cavcorp brings Newstead’s picture-perfect lifestyle within Luminare’s very walls, with each residence showcasing house-sized grandeur, yet with all the convenience of inner-city living. All Sub-Penthouses comprise four bedrooms, three bathrooms, two living spaces, a home office, built-in BBQs on expansive balconies, steam showers by Mr Steam, and commercial-grade kitchens.

Ari reveals that the team has seen a demographic of young families looking to “right size” and empty nesters moving into the area from suburbs like Ascot, Hamilton, and even Brookfield.

“One of our most recent Penthouse purchasers, Zhen Chen, said it perfectly; “Once you live in a big house, you see it's a big waste of space. You don't actually need it, but you have to spend all this time cleaning and maintaining it… For us, it's a lifestyle change where you basically have zero maintenance. I used to have to mow the lawn all the time, oil the timber… it's a lot of work. But when we look at the product, the Penthouse we bought is actually quite similar in terms of living space.””

The Watson by Kincrest comprises only 37 significantly sized dwellings.

Similarly, The Watson has been thoughtfully crafted and features spacious, light-filled floorplans with high-end finishes, premium Miele appliances, stunning city and park views, and a coveted 6-star Green Star rating.

Paired with an unmatched location, these residences truly showcase just why both Australians and international buyers are choosing city over sea and flocking back to these inner-city locations.

For more on off-the-plan properties, market insights, news, and lifestyle, click here.

Header image of Luminare.