Consolidated Properties Group executive chairman Don O’Rorke.
As land lots shrink, many Brisbane families have opted for an apartment as their family home, instead of investing in house and land.
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That is according to the developer of Brisbane’s Spire Residences Consolidated Properties, who noted data from the Queensland Statistician’s Office showed the average Brisbane homesite had shrunk 203sq m in 10 years, from 604sq m in 2008, to 410sq m in 2018.
Spire Residences, Queen St, Brisbane.
Consolidated Properties Group executive chairman Don O’Rorke said the change in housing trends meant more families were now choosing apartments and embracing an inner city lifestyle instead of moving to the suburbs.
“It’s really interesting to see the diverse mix of buyers we are getting at our inner city Spire Residences development,” Mr O’Rorke said.
“Apartments have typically been the domain for singles and young couples, and while that is still certainly the case, we are now seeing some families choose a unit over a backyard.
“It makes sense, when you consider that Spire offers more than 1000sq m of lifestyle amenities.”
Spire’s infinity edge pool and its amazing city views.
He said the “crowning jewel” of the building, designed by award-winning John Wardle Architects, was its rooftop, which included one of the city’s highest pool, dining and entertaining zones and a 20-seat cinema.
“Here, residents can take in the Story Bridge, Brisbane River and Kangaroo Point Cliffs from the infinity edge pool — there are very few places in Brisbane where you can do that.”
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Mr O’Rorke said decisions to choose apartments over houses were also made on cutting commute times and making the home maintenance workload lighter.
“By opting for an apartment in the city, they are cutting their commute time and costs, potentially paying an equivalent price for the property and enhancing their lifestyle with access to better amenities than you would find in a private home.
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“I believe that Brisbane is now becoming a vertical village by choice, not just because of population growth and the need to increase housing density around the city centre.”
Just eight of the 340 apartments are left within the tower and start from $411,000.