{"id":44845,"date":"2023-09-28T18:13:11","date_gmt":"2023-09-28T05:13:11","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=44845"},"modified":"2023-09-28T18:13:11","modified_gmt":"2023-09-28T05:13:11","slug":"young-people-with-no-hope-of-ever-owning-a-house-embrace-their-new-australian-dream","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/young-people-with-no-hope-of-ever-owning-a-house-embrace-their-new-australian-dream\/","title":{"rendered":"Young people with no hope of ever owning a house embrace their &#8216;new Australian dream&#8217;"},"content":{"rendered":"<p><strong>PHOTO: Property ownership. FILE<\/strong><\/p>\n<p>The traditional Australian dream of owning a quarter-acre block with front and backyards has faded into history, replaced by the contemporary concept of the &#8217;15-Minute City.&#8217; This new vision centers on securing a spot in high-rise unit blocks as close as possible to work and public transportation.<\/p>\n<p>Over just a few decades, young Sydneysiders have shifted their aspirations from owning houses with spacious yards to residing in apartments near the city center with easy access to trains and buses. Instead of the once prevalent three-bedroom houses on 1,000sqm lots, developers are now offering towering structures containing 30-plus studio flats, each around 40sqm in size, barely larger than a motel bedroom. Between 1991 and 2021, the population living in Sydney&#8217;s apartments more than doubled, with 30 percent of all Australians now calling apartment buildings their home.<\/p>\n<div class=\"mol-img\">\n<div class=\"image-wrap fff-pic\"><img fetchpriority=\"high\" decoding=\"async\" id=\"i-71cc95d404b832fd\" class=\"blkBorder img-share b-loaded\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/23\/13\/75710281-12538679-Sydneysiders_have_now_ditched_traditional_houses_with_a_backyard-a-4_1695473427348.jpg\" alt=\"Sydneysiders have now ditched traditional houses with a backyard for apartments in the superstrings of new high-density blocks lining the city's main public transport corridors\" width=\"634\" height=\"904\" data-gallery-handler-attached=\"true\" \/><\/div>\n<\/div>\n<p class=\"imageCaption\"><em><strong>Sydneysiders have now ditched traditional houses with a backyard for apartments in the superstrings of new high-density blocks lining the city&#8217;s main public transport corridors<\/strong><\/em><\/p>\n<p>This transformation is occurring despite the emergence of new housing developments on the city&#8217;s outskirts in suburbs like Schofields in the west, Quakers Hill in the north-west, and near Campbelltown in the south-west. The changing landscape of the Sydney property market is closely linked to the construction of homes along the city&#8217;s primary transportation routes.<\/p>\n<p>Conventional homes and aging low-rise apartment blocks are giving way to high-density developments rising along the major arteries leading north, west, and south. NSW Premier Chris Minns expressed the necessity of this vertical expansion, stating that Sydney cannot sustain growth by adding more streets to its western fringe every other week. The solution lies in building upward.<\/p>\n<p>St. Leonards, located on Sydney&#8217;s lower north shore, showcases blocks that reach up to 47 storeys in height, forming vertical communities complete with supermarkets, medical centers, and even libraries integrated into their design. Restaurants, cafes, and schools are all within walking distance. These developments are considered the high-end blueprint for the city&#8217;s future, with their success reliant on their proximity to bus, train, and light rail networks.<\/p>\n<div class=\"mol-img\">\n<div class=\"image-wrap fff-pic\"><img decoding=\"async\" id=\"i-be15feab26ee6fc2\" class=\"blkBorder img-share b-loaded lazyload\" data-src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/22\/07\/75710441-12538679-Between_1991_and_2021_the_number_of_people_living_in_Sydney_unit-a-64_1695363434432.jpg\" alt=\"Between 1991 and 2021, the number of people living in Sydney units more than doubled, with 30 per cent of all Aussies now calling apartment blocks home\" width=\"634\" height=\"849\" data-gallery-handler-attached=\"true\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 634px; --smush-placeholder-aspect-ratio: 634\/849;\" \/><\/div>\n<\/div>\n<p class=\"imageCaption\"><em><strong>Between 1991 and 2021, the number of people living in Sydney units more than doubled, with 30 per cent of all Aussies now calling apartment blocks home<\/strong><\/em><\/p>\n<p>Many of these buildings have been strategically positioned with an eye on the new metro station opening in Crows Nest in 2024 and key bus routes along the Pacific Highway. Their location ensures that residents can leave home and reach their workplaces within 15 minutes.<\/p>\n<p>Video editor Jake Horne, 32, has no regrets about trading his Central Coast home with a garden for a smaller apartment on Sydney&#8217;s north shore. He cited his relief from the arduous commute, which previously consumed two hours of his day, and the convenience of multiple public transportation options near his apartment.<\/p>\n<p>While the transition from a house to an apartment represented a significant change, Jake emphasized that he didn&#8217;t miss having a large garden or the responsibilities that came with it. He highlighted the increasing appeal of modern apartment designs, noting that they are more vibrant and interesting compared to older developments. He encouraged the construction of more such developments, provided they incorporate green spaces and essential amenities.<\/p>\n<div class=\"mol-img\">\n<div class=\"image-wrap fff-pic\"><img decoding=\"async\" id=\"i-939cc9b3efa23b53\" class=\"blkBorder img-share b-loaded lazyload\" data-src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/22\/07\/75717093-12538679-image-m-67_1695363630362.jpg\" alt=\"\" width=\"634\" height=\"397\" data-gallery-handler-attached=\"true\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 634px; --smush-placeholder-aspect-ratio: 634\/397;\" \/><\/div>\n<\/div>\n<p class=\"imageCaption\"><em><strong>The vertically-designed $325million Arthur Phillip High School in Parramatta&#8217;s towering new-look CBD was dismissed as an expensive mistake even before it finally opened in 2020<\/strong><\/em><\/p>\n<p>This shift towards apartment living is driven by the limited space available for further expansion in the city. Consequently, housing prices near business centers have surged, making the dream of owning a spacious quarter-acre block even more elusive. In contrast, apartments have remained relatively affordable.<\/p>\n<p>However, the demand for apartments has led architects to rethink their design. While studio flats for singles and young couples starting at $500,000 are prevalent, the challenge is to offer larger, house-like facilities within apartment layouts, including spacious three- or four-bedroom options for families. Families increasingly choose apartment living, but architects have struggled to keep up with their evolving needs, particularly in terms of storage, laundry, and child-friendly spaces.<\/p>\n<div class=\"mol-img\">\n<div class=\"image-wrap fff-pic\"><img decoding=\"async\" id=\"i-4513e23ea627c770\" class=\"blkBorder img-share b-loaded lazyload\" data-src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/22\/07\/75710245-12538679-The_development_is_a_high_end_blueprint_for_Sydney_s_future_unde-a-61_1695363433819.jpg\" alt=\"The development is a high-end blueprint for Sydney's future under a 15 minute city philosophy\" width=\"634\" height=\"849\" data-gallery-handler-attached=\"true\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 634px; --smush-placeholder-aspect-ratio: 634\/849;\" \/><\/div>\n<\/div>\n<p class=\"imageCaption\"><em><strong>The development is a high-end blueprint for Sydney&#8217;s future under a 15 minute city philosophy<\/strong><\/em><\/p>\n<p>Despite these challenges, many residents appreciate the benefits of apartment living, including reduced maintenance and proximity to work and amenities. Still, there are concerns about overcrowding and the need for local facilities to expand to accommodate the growing population.<\/p>\n<p>As a result, larger, family-friendly apartments are now being integrated into the latest developments, albeit at a higher price point. A three-bedroom unit in the 88 Christie Street block in St. Leonards, for example, starts at $2.4 million and offers nearly 150sqm of living space.<\/p>\n<p>SOURCE:<a href=\"https:\/\/www.dailymail.co.uk\/news\/article-12538679\/Young-people-no-hope-owning-house-embrace-new-Australian-dream-Boomers-sitting-big-blocks-sad-millennials-reveal-theyre-NOT-missing-out.html\"> THE DAILY MAIL<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Property ownership. FILE The traditional Australian dream of owning<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/young-people-with-no-hope-of-ever-owning-a-house-embrace-their-new-australian-dream\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":35412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478127632,478127645,478127638,478100363,478127649,478099519,478127637,478127644,478127652,478127658,478127661,478127640,478127634,478098954,478127648,478100277,478127665,478127646,478127659,478127666,478127633,478127656,478127639,478101384,478127667,478127650,478127641,478102923,478127654,478127660,478127657,478127643,478127662,478099782,478127653,478120797,478127664,478103893,478119284,478127635,478127651,478127663,478127642,478127133,478127636,478127655,478127647],"class_list":["entry","author-data123nz","post-44845","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-15-minute-city","tag-apartment-amenities","tag-apartment-design","tag-australian-dream","tag-australian-housing-shift","tag-australian-property-market","tag-city-apartment-lifestyle","tag-city-living-advantages","tag-city-living-convenience","tag-city-center-living","tag-family-apartments-sydney","tag-family-friendly-apartments","tag-high-density-developments","tag-housing-affordability","tag-modern-apartment-design","tag-owning-a-house","tag-property-market-evolution","tag-suburban-growth","tag-suburban-vs-urban-living","tag-sydney-apartment-demand","tag-sydney-apartment-living","tag-sydney-apartment-prices","tag-sydney-commute","tag-sydney-home-prices","tag-sydney-housing-challenges","tag-sydney-housing-demand","tag-sydney-housing-developments","tag-sydney-housing-market","tag-sydney-housing-options","tag-sydney-housing-preferences","tag-sydney-infrastructure","tag-sydney-metro-expansion","tag-sydney-metro-stations","tag-sydney-property-prices","tag-sydney-property-trends","tag-sydney-property-values","tag-sydney-public-transportation","tag-sydney-real-estate","tag-sydney-real-estate-market","tag-sydney-transportation","tag-sydney-urban-planning","tag-urban-amenities","tag-urban-architecture","tag-urban-development","tag-urban-housing-trends","tag-urban-lifestyle","tag-vertical-communities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Young people with no hope of ever owning a house embrace their &#039;new Australian dream&#039; - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/young-people-with-no-hope-of-ever-owning-a-house-embrace-their-new-australian-dream\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Young people with no hope of ever owning a house embrace their &#039;new Australian dream&#039; - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Property ownership. 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