A number of new Australian residential property trends are taking hold. For international real estate investors, knowing these can ensure you acquire the right residential property Down Under. The biggest change has been the shift in demand from suburban houses to apartments located near city centers.
But this is only one of several Australian residential property trends to take note of. Australian homebuilder Crown Group has found three more trends investors should know about.
3 Australian residential property trends
Living close to transportation
More Australians are ditching their cars and taking public transportation. The government is supporting these efforts by investing heavily in infrastructure and this is helping fuel Australian residential property trends.
“The eastern seaboard (of Australia) is undergoing something of a transport bonanza, with billions of dollars’ worth of new rail lines, metro and light rail lines, bridges and roads under construction in Sydney, Brisbane and Melbourne,” Iwan Sunito, Crown Group Chairman and Group CEO, explained. “Buying property around upcoming transport hubs such as a new train station offers opportunities for potential capital growth in years to come, but also ideal locations for residents to enjoy easy access to their workplaces and to get around town.”
Iwan added that Crown Group is choosing project locations based on accessibility. An example of this is the developer’s Waterfall and Mastery apartment projects that are close to the new Sydney Metro stop set to open in 2024. It is part of the biggest urban rail project in Australia’s history and is a location ideal for property investment.
Mixed-use moves in
Mixed-use projects with residential, hospitality, retail and dining spaces are common in Asia, but are still new to the Australian market. However, mixed-use developments are becoming more popular as a number of lifestyle precincts pop up in major cities.
“Now, there is a growing emergence of and mixed-use developments, where residents have everything they need on their doorstep,” Iwan stated. “In the heart of Sydney, we recently unveiled Arc by Crown Group, where we developed a precinct that melds sophisticated apartment living with a New York inner city lifestyle. Below the luxury apartments is a boutique serviced apartment hotel, SKYE Suites, alongside a retail precinct in a restored historic lane, called Our Skittle Place, which offers cafes and restaurants in a brick-paved walkway that links Kent and Clarence streets.”
A unique theme
It’s also common to see themed developments in major Asian cities. But these have not taken hold in places such as Australia and Western Europe where developers tend to want a project that appeals to a wide range of potential residents. Things are changing with Crown Group being one of the first developers to introduce themed communities in the country.
“The concept of a themed residential community is really taking hold in Australia, with our Japanese- themed development a star example. Mastery by Crown Group, where world-renowned Japanese architect Kengo Kuma has designed one of the five buildings, has a stacked forest design with greenery on its façade,” Iwan said. “It will have Sydney’s first Japanese eat street, offering authentic dining experiences drawn from the sprawling streets of Tokyo’s Shibuya and Shinjuku special wards, plus bustling Izakaya, sushi trains and ramen restaurants, to tea houses serving Cha-kaiseki.”
Use trends to guide Australian property investment decisions
These Australian residential property trends offer important insight on how you can be ahead of the curve. Many residential properties do have potential for capital growth based solely on market conditions. Purchasing an apartment that is in-demand can ensure stronger rental returns to go along with any capital appreciation.