13

July 2018

The Downsizing Dream

The Sydney property market is not just one market - it is many markets, with many types of buyers. We keep reading about some segments of the market that are having a rough time, which in reality is mostly the enormous generic apartment buildings which were targeted at investors and foreign buyers - both of whom are now pretty much non-existent.

Sometimes we read about the first home buyers, who in fact have become more active over the past 6 months. Read more.

But we almost never hear about what I consider to be the strongest market at the moment - the downsizers. These are the people with no children left at home, and who are tired of gardening and mowing lawns. They want to buy a smaller but still spacious, low maintenance home where they can relax and entertain in style, but also lock and leave when they want to go away for extended holidays.

Downsizers have stringent requirements, such as…

  • Quiet location.
  • Near shops and transport - but not too close.
  • Away from schools.
  • Boutique block.
  • Prestige design.
  • Quality construction and finishes.
  • Oversize apartments.
  • Luxury kitchens and bathrooms.
  • Loads of storage.

We have 2 projects that tick all these boxes - Rosemill (41 x prestige apartments), and Tallowwood (12 x 3 storey luxury townhouses), both of which are in St Ives. The developers took a great deal of time to understand the needs of the downsizer, and they even provide a choice of quality upgrades and finishes so that buyers can design a bespoke apartment, and get exactly what they want.