Small inner city apartments built during the boom years of the past decade are unlikely to meet the needs of the Y generation. According to BIS Oxford Economics, changes in demographics over the next 10 years will drive demand for apartment homes.

The economic forecaster estimated the population and concluded that the rapid growth of the 20-34 age group over the past 15 years will allow generation Y or millennial generations to determine the shape of the housing market over the next decade.
With Y generations entering or not, and more likely to live in families with children, this stage of life usually seeks to buy houses and independent homes, but they will need to strike a balance between convenience and affordability.

BIS’s Angie Zigomanis said: “For those who want to stay in the inner city or Central, it is economically unaffordable, so they will look for more comfort but more affordable. Something.”

“Maybe the best residential type to satisfy this compromise is a townhouse.”
Lack of larger apartments and outdoor spaces on the market

Investor demand has sparked a boom in apartment construction – especially in Sydney, Melbourne and Brisbane – but Ziegmanis said that the one-bedroom apartment has only one bedroom or two small bedroom apartments, and now The Y generation, which is attracting renters in their 20s, is unlikely to have the same appeal as they grow older.

He expects increased demand for medium-density housing, including townhouses, large homes and villas with at least three bedrooms.

Ziegmanis expects that Generation Y generations will continue to demand high-density apartments.

Baby boomers have increased demand for terraced houses

More and more people over the age of 65 will not tend to support smaller apartments.

Zigmanis said: “Our previous research shows that many baby boomers still want to stay in the area where they currently live. They have already made friends and established social relationships here.”

“From their perspective, they will create more demand for medium-density products in the inner city or mid-town suburbs over the next decade.”