Australians dedication to apartment living continues to flourish, with a new report showing one in five have lived in their current strata dwelling for a decade or more.
The findings were revealed in the 2021 Australian Apartment Advocacy Survey, a biennial report that looks at what strata buyers are seeking and enjoying about their apartment purchase.
Conducted during March and May this year, nearly 3,600 strata residents were canvassed on their thoughts on everything from what they liked about their apartment complex to why they moved out of their previous home.
Results from the country’s three most populous states show that NSW apartment residents seemed the most comfortable in their current confines, with 58 per cent of resident owners and investors having had their apartment for five years or more. Of these, 28 per cent had been living in their apartment for ten years-plus.
The news was similar in Victoria where there was a real mix of tenures. One in five have owned or been living in their apartment for less than a year. A similar number have had their apartment for ten years or longer.
As with NSW residents, Victorian renters tended to have had their current apartment for a shorter period of time (61 per cent for less than a year). Investors had their apartment for the longest with 69 per cent being in their current abode for five-plus years.
One in five of those living in apartments in Victoria had been in their property for ten years or longer.
As with the other states, the report showed there was also a mix of apartment tenures in Queensland.
Renters there tended to have had their current apartment for a shorter period of time (72 per cent for less than two years). Investors had their apartment for the longest (48 per cent for five plus years). One in five had their apartment for a decade or longer and 22 per cent had their strata dwelling for between five and nine years.
The findings also showed that 87 per cent of those who live in apartments in NSW were one or two person households, accounting for 30 per cent and 49 per cent of strata dwellers respectively. Just one per cent contained more than four people.
In Victoria, 91 per cent of apartment households were one or two persons households, accounting for 44 per cent and 47 per cent respectively.
The story was quite different in Queensland where 91 per cent of apartment households were one or two person households. Of these, two person households were the most popular, accounting for 57 per cent of those surveyed while the next most popular way to live in a strata dwelling was in a one person household, at 34 per cent.
There were no households surveyed who had more than four people and only four per cent who had four people, perhaps reflecting the stock available.
The report showed that professional workers accounted for the largest percentage of all strata dwellers, representing 47 per cent in Victoria, 40 per cent in NSW and 35 per cent in Queensland. Retirees were the next biggest group, accounting for 17 per cent, 18 per cent and 29 per cent respectively.