More Adelaide consumers are desiring to purchase modern apartments and townhouses near cosmopolitan ‘High Streets’. Vibrant inner-city areas such as Bowden, Prospect and Norwood are particularly in-demand, with Norwood real estate being the fifth most-desired suburb in Australia for housing, according to the latest REA Group Property Demand Index.
“We are, by any measure, one of the most liveable cities on the planet. South Australians who have moved overseas or interstate are looking at returning because of this,” has stated Patrick Robinson, the former City of Adelaide Council’s senior advisor for Investment Growth International Relations.
Robinson believes the benefits of high street living – being walking distance from small bars, laneways, festivals, cafes, pubs, shopping and night life – combined with Adelaide’s affordable property prices are convincing young professionals to seek an “easier lifestyle”.
As a forward-thinking local developer, we agree: Buildtec pre-empted the trend by building thoughtfully-designed boutique developments – rather than multi-use, high density towers – in the heart of some of Adelaide’s most dynamic communities, close to amenities such as supermarkets, schools, parks and public facilities.
Adelaide suburbs have undergone significant rejuvenation, such as Bowden which is now seen as a ‘City Village’. Very high owner-occupier rates indicate people strongly desire to live there. Our 354 Bowden development offers one and two-storey apartments and terraces that are modern, secure and low-maintenance, and which have played a part in the area’s growing value, liveability and gentrification.
Over in sought-after Norwood, our recently unveiled Bath Apartments on The Parade and Queen Street provide the ultimate lock-and-leave lifestyle. The competitively priced one-, two- and three-bedroom apartments have attracted first home buyers, young professionals and downsizers keen to be close to the action. The added incentive of the $15,000 first home owner grant has seen a spike in enquiries. Adelaide buyers are astute, particularly maturing apartment buyers who definitively know what they want: low maintenance living. Older people are also steering away from retirement villages in favour of their own apartments.
Interested buyers who similarly desire high street apartments and townhouses for sale in Adelaide will soon be able to invest in Buildtec and Catcorp’s $120m master-planned community Norwood Green, located on Magill Road. The key to delivering affordable product in prime locations is offering diverse property types, and our varied collection of energy-efficient, well-designed residential offerings will create a village-like atmosphere in Adelaide’s most desirable residential area when construction takes place in late 2019.
Last year Adelaide City Council’s associate director of economic development and tourism, Matt Grant, said “I’m confident that more people are wanting to experience ‘city living’ in Adelaide” – which is possible when purchasing high street apartments in areas such as Bowden and Norwood. He continued: “Occupied apartments add value to the city economy and community, and will always be the preferred outcome we push for.”