Living in house-sized apartments is the ‘new Australian dream’ and developers are making it a reality

Apartment living is no longer just about affordability but increasingly a lifestyle choice for many Australians as shown by strong demand for a new Queensland resort-style development.

Resort-style living in house-sized apartments is the new Australian dream.

IT’S the new Australian dream and developers are increasingly dreaming up projects to make it a reality.

Resort-style living in house-sized apartments has replaced the three or four-bedroom residence on a quarter-acre block as the pinnacle of home ownership.

The number of Australians — especially families — living in apartments has been steadily growing over the past couple of decades.

Census figures show that between 2011 and 2016 the number of families living in apartments increased by 56 per cent.

And while affordability compared to buying house-and-land is still a factor, for a rising number of Australians apartment living is a lifestyle choice.

Apartment living is becoming a lifestyle choice for an increasing number of families with modern developments offering increased space, comfort and amenities.

To meet the aspirations of living the new Australian dream, developers have had to rise to the design challenge of improving liveability of modern apartments — increasing space, comfort and amenities with a view to being long-term homes for permanent residents.

“Our residents tend to lead an active lifestyle and still want the space and accessibility,” said Dane Larcombe, the sales and marketing manager for the $400 million Settler’s Cove development in Noosa on the Sunshine Coast.

“They are seeking to improve their lifestyle while simplifying their lives by minimising yard and pool maintenance.”

Lumina Residences, the fourth stage of the Settler's Cove development at Noosa Heads.

The multi-residential project by Perth-based Cape Bouvard Developments sits on 36 hectares overlooking Noosa River. It was launched 12 years ago and comprises land subdivision as well as apartments progressively developed over five stages.

Its latest stage is Lumina Residences, which will feature three-bedroom apartments ranging from 278sq m to 460sq m with resort-style facilities and exclusive jetty access to Noosa River. They are priced from $1.825 million.

Sunshine Coast construction company RCQ, which has been involved in the majority of the project’s stages and won accolades for its work, has been awarded the $25 million contract to build Lumina. Early works already have been completed and construction is expected to be finalised in late 2020.

Construction is underway and buyer demand is strong for Lumina Residences, which overlooks Noosa River.

Mr Larcombe said high demand for new stock in the Noosa area had seen more than 30 per cent of the project already sold.

He said the market was continuing to strengthen for “resort-style apartment living designed for permanent residents”.

“With new developments in Noosa so tightly held and a location like no other, the release of Lumina Residences has seen an immediate response from buyers,” Mr Larcombe said.

“While local interest remains strong, we have also attracted buyers from New Zealand and across Australia who are keen to upgrade their lifestyle.”