Post-covid, more and more downsizers are looking to trade in their big backyards for city living without compromising on lifestyle. And Milton is one fine example of a suburb that’s ticking all those boxes.
Experts agree that the past two to three years have changed the residential real estate landscape, and developers need to be constantly on their toes and keep abreast with the ever-changing trend.
When COVID hit, people started moving away from the fast-paced city life to pursue a quieter country town or coastal lifestyle. Post-pandemic, however, a shift in this trend happened, with more and more people now moving back to the city to downsize their homes and upscale their lifestyle.
Downsizers are actively seeking out areas that have a strong sense of community and yet are within walking distance of shops, cafes, and restaurants, which riverside suburb Milton has plenty of.
Milton offers the convenience of an inner-city lifestyle with plenty of amenities and a buzzing community vibe. Moreover, it’s teeming with shady trees, old Queenslander houses and open parks.
For investors, the market fundamentals on offer in Milton are compelling. Given its relative affordability compared to other states and combining that with the population and employment growth, you’ve got a recipe for success.
The low vacancy rate in the city, currently under 0.7%, could mean suburbs like Milton will continue to enjoy rising housing demand.
With local migration currently pointing the way, developers like Goldfields are taking advantage of the opportunity by tapping into the previously undersupplied market of Milton. The Group’s latest residential project at 33 Manning is an 18-storey, 131-apartment building that lures prospective buyers with its mix of one-, two-, and three-bedroom units and penthouses with stunning river and city views.
Apartments in the city are currently providing the most value for owner-occupiers and an opportunity for investors. With more and more people choosing to live in the city and supply still at low levels, demand for apartment living will continue to rise and could stay that way for quite a while.
Published 4-April-2023