Speaking to AFR, Place Studio co-founder James Alexander-Hatziplis explains that home buyers who have been priced out of the housing market are considering apartment living, provided it delivered similar advantages such as a third bedroom that could be used as a study or an extra living room, more living space, rooftop cinemas and shared event spaces, spas and managed gyms, flexible workspaces, storage, and winter gardens among others.
Prices in some of the city’s more expensive suburbs were boosted by scarce supply and increasing demand from buyers keen to take advantage of a decline in values sparked by rising interest rates.
While a global real estate agency revised growth estimates for Australia’s luxury market capital growth in 2023 on account of looming headwinds, it predicted that one capital city is poised for a golden year.
While the era of strong price growth has ended for Australia as a whole, Brisbane and Adelaide have emerged as the last strongholds amid the market downturn sweeping across the country.