Escape to the country: buyers drop apartments in search of space

Amid changing work and health realities, inner-city apartment dwellers are moving to the suburbs and beyond in search of a detached house.

Stephen Moss: ‘The virus has been a catalyst to speed up a paradigm shift towards people working from home.’ Picture: Nikki Shortt

The thought of sharing a lift, a foyer, or a communal staircase with other residents is driving inner-city apartment dwellers out to the suburbs and beyond in search of a detached house with multiple living spaces and preferably a backyard.

Knight Frank Prestige residential partner Deb Cullen said her wealthy buyer clients, both locals and Asia-based expats, were now “absolutely’’ more interested in buying detached houses than city apartments following recent COVID-19 self-isolation home enforcements.

“People are now thinking about their health and wellbeing with every purchase,” Ms Cullen told The Weekend Australian.

“There’s a lot more attention on houses than apartments … they want to be in the blue-ribbon suburbs or the country. Our regional properties have seen a huge surge in inquiries, people want more space and they want to be able to grow veggies.”

Offshore, Singapore and Hong Kong-based apartment dwellers are hankering after space and are headed back to Australia to buy houses in expensive suburbs or the country.

“They want to get out of their city apartments where they can’t open windows, particularly if they have young children,” she said.

There will always be apartment dwellers but many will prefer buildings with four or less units per floor in a bid to protect themselves from the virus.

Entrepreneur Stephen Moss, who recently relocated from a double-storey apartment in Sydney’s inner-city Walsh Bay, has gone a step further and moved to a house in suburban Rodd Point in the city’s inner west.

He reckons the days of paying a premium to live in property with communal access are over.

“There’s no longer a requirement to live in the city for many professionals because the world is changing,” said Mr Moss, son of the former head of Macquarie Bank’s real estate division, Bill Moss.

“The market will see a drive away from luxury apartments. My family, who all lived in the Toaster apartment block at East Circular Quay, have gone back to the family house in the Blue Mountains to live and work remotely.”

As for the relocation to Rodd Point, Mr Moss said the driving force to move was, “I wanted a backyard that wasn’t governed by a strata committee.

“I have a few friends who have done the same thing because they don’t want communal access. I know a lot of people who have also left strata managed buildings in preference for a house. (And) in a house you can have your own pet.

“We have seen with the virus there is potential for … a deadly virus that could easily bring the world to its knees at any time. This is the start of a new era,” he said.

“The virus has been a catalyst for a paradigm shift. Technology was always going to bring people out of the office and the virus has been a catalyst to speed up a paradigm shift towards people working from home, that is fast becoming the new norm.”

Melbourne-based Metricon Homes chief executive officer Mario Biasin, a builder of free standing homes in Victoria, Queensland, NSW and South Australia for more than 44 years, said although there would always be demand and a need for higher density living, many homeowners ultimately want a private and open living environment — one that they can call their own.

“Detached dwellings meet this consumer need. A freestanding home is ultimately part of the great Australian dream.”

Mr Biasin said there had been COVID-related impacts on sales in regional markets “which we suspect can in part be attributed to more people now working successfully from home.

“Without a commute from regional areas into CBDs, regional living is more affordable and manageable than it’s ever been. We’ve also seen a big increase in customers enquiring about home offices. COVID-19 has seen our customers re-evaluate the things that are important to them in their homes as we’ve all been spending a lot more time in them.”