This begs the question – if houses are shrinking, how can all of these cohabitating, multi-generational families still fit comfortably in their homes?
While Australian house sizes are indeed shrinking, apartment sizes are continuing to increase.
In fact, the Point Piper Mansion that previously held the title for Australia’s most expensive residential property was topped in 2019 by a Sydney apartment.
The $140 million price tag of the ‘One Sydney Harbour’ mega-penthouse – a bonafide ‘super-apartment’ – vastly eclipses last year’s $100 million sale of the Point Piper estate, proving that apartment living is becoming increasingly popular at all levels of the property market.
Families are starting to see the benefits of apartment living, and a number of new residential development projects have been designed precisely with this in mind. In addition to embracing the apartment lifestyle, living with extended family members is also becoming favoured around the country, so it makes sense that the two concepts are being combined – sparking the rise of multi-generation friendly ‘super-apartments’.
The many positives of multi-generational living, such as split costs, free child-care and having your family close by are quoted as some of the key factors as to why the practice is becoming more prevalent. Many forward-thinking developers predicted this growing preference amongst Australian families, since multi-generational living has already been embraced for many years in other cultures, particularly in closely neighbouring Asian countries.
The Engelfield in Melbourne's prestigious South Yarra was on of the earlier examples, with most of the super apartments selling out off the plan before construction completed.
The Engelfield in Melbourne's exclusive South Yarra
Facilities-rich apartment living is often a great option for families looking to embrace a cohabitational, multi-generational style of living in Australia’s capital cities, and developers have begun to adapt their apartment development designs accordingly.
In Sydney, the Landmark, virtually sold out off the plan, not only offers vistas of Sydney Harbour, but also a plethora of resort-style amenities including a sauna, kids play area, piano room, virtual golf, cinema, library, lounge and dining room – making it ideal for family life.
Oversized apartments provide a great opportunity for adult children to welcome living with their parents again, creating a perfect home for grandparents, parents and children to thrive in.
The Eighth, in Melbourne is an international-inspired building that is raising the standard of luxury apartment living in Australia. Situated in perfectly-connected Southbank, the Eight also boats a number of ‘super-apartments’ and amazing amenities ideal for family life, with several residents purchasing more than one property in order to create the perfect home for multiple family members.
The Eighth residents pool
The Catalina in Surfers Paradise offers large 3 and 4 bedroom apartments and penthouses suitable for families looking for impeccable design and a hyper-convenient lifestyle. The development has created an affordable price point for families who may not have otherwise been able to afford the exclusive Chevron Island address, not to mention enviable resident amenities such as a pool, BBQ areas, a fully equipped gym and cinema.
By moving into these luxurious ‘mega-apartments’, many families gain access to facilities and amenities that they may not have had in their traditional, detached family home. The option to customise floorplans and combine multiple properties makes multi-generational living even more achievable and enjoyable.