Demand for apartments in Nedlands, Applecross and Victoria Park
The West Australian Apartment Advocacy (WAAA) has just released the results of its inaugural online survey that interviewed 359 respondents.
Comprising of responses from 155 owner/occupiers, 113 renters and 88 investors, the survey explored a whole range of ideas with people who have chosen to live and own apartments in WA.
Samantha Reece Director of WAAA stated that interestingly 26% of the respondents wanted to live in apartments in areas where that choice was simply not available.
“The top suburbs that respondents nominated were Nedlands, Applecross and Victoria Park,” Ms Reece said.
“People were looking for the right mix of apartments in the right location with the right amenity.
“That means a choice of services such as grocery, retail and recreation in walking distance but also amenity in the building such as entertaining areas.”
Ms Reece said that the data also showed that buyers were seeking apartments that were spacious, light and airy.
“Buyers want the apartment to flow and are seeking extra storage and space,” Ms Reece said.
“In particular older buyers may be moving from a house to an apartment, but they are not downsizing, rather right sizing and up styling. So that means we are going to have to get clever at designing and trying to maximise the sense of space in order to meet the growing needs of these buyers.”
87% of the respondents were working full time, with 36% single person households, 47% two person household and 11% families.
Ms Reece said that the flight to quality was certainly on the radar.
“Buyers are looking for modern and new and this means that older apartments are going to take longer to sell or lease,” Ms Reece said.
“While people are saying that there is too much choice and that is why buyers are not purchasing – the reality is- are the current apartments worth choosing!
“We expect that in the course of the next couple of years the industry will see some key developers really set the scene with apartment designs and it is important that we encourage this kind of excellence for Perth’s future.”
WAAA is the voice for people who choose apartments in WA. It seeks to demonstrate the need for housing choice in WA and the role that apartments can play.