Real Estate

Inner city lifestyle starting to attract families

Written by The ReReport
As seen in the Source link, written by news.com.au on 2019-03-18 12:01:24

INNER city living has traditionally been the domain of professionals and downsizers.

But times are changing in central Geelong as more families make the move out of suburbia and into the CBD.

Whitford, Newtown agent Heidi Trempel said the emergence of family buyers in downtown Geelong was a relatively recent trend.

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“It’s become more of an area where I have seen more families say ‘hey, we are happy to go and live in the CBD’, which has never happened before,” Ms Trempel said.

“It’s only really been coming on in the last 12 to 18 months.

“It probably just shows how our city has grown. Before it was always suburbia where people wanted to live and people invested in the city.”

She attributes the waterfront and nearby cafes and restaurants as a major attraction.

Revitalisation projects such as the Laneways Project, enhancing the streetscape around the west end of Little Malop St, are also helping make the CBD a more attractive place to work, live and play.

Demand is running hot for CBD apartments, which typically attract downsizers and professionals.

Apartments in Geelong’s soon to be tallest building, the 21-storey Miramar development, recently sold out during the construction phase.

Some of these buyers live outside Geelong but are attracted to the idea of having a city pad as well.

Ms Trempel said families generally looked for larger character houses, such as those recently sold for $1.89 million at 19 Pevensey Cres and $1.475 million at 1 Pevensey Cres.

“When people see other people going somewhere they want to be a part of it,” she said.