Australian Baby Boomers looking to downsize from their large family homes are increasingly asking the same question: where are all the three-bedroom apartments?

Cashed-up older home owners seeking to leave houses with empty bedrooms and high-maintenance gardens are finding their options are fewer than expected. In Sydney, there is almost triple the number of two-bedroom apartments on the market as three-bedders, which is leading to the price of the larger properties soaring three times the rate of the smaller ones – the biggest premium on record.

Bloomberg Wealth