A lot of people in the big Australian cities are making the decision to live by themself instead of living with other people/and or their significant others. This tendency comes from the changes in urban areas, the longevity of life, and more acceptance of unmarried females.
Alternatively the increase in one-person family in NSW is an issue. One-person household in NWS are predicted to increase from 630,000 in 2011 to over 1.03 million by 2036, according to information from the Australian Bureau of Statistics. At present the requirements for studios or 1-bedroom apartments as well as homes for single person is exceeding by far the availability.
“It’s happening too at both ends of the spectrum” Professor Peter Phibbs, geographer, planner and social economist at the University of Sydney said. “At the older end, a lot of older people, maybe widowed, are living alone, while there are also a lot of younger people alone. But the dilemma for this fastest growing household type is the supply of suitable housing, and its price.” But the dilemma for this fastest growing household type is the supply of suitable housing, and its price.”
Disturbingly not much is happening to fix this situation. As stated by the latest BASIX data, only 19% of new apartments are studios or 1 bedroom. On the other hand, 2 bedrooms count for 64 % and 3 bedrooms for 16% of the supply.
NSW and local council planning guidelines usually control the combination, as Murray Wood, Director of residential projects at CBRE. “They dictate what developers can and can’t do,” said. “Many would like to build more studios and one-beds, partly because they sell quicker as they’re at lower price points so they can get the building underway quicker with presales. But there is generally a better return for two beds and the construction costs – since they both have a kitchen and bathroom which are the most expensive elements – are similar.”
Numerous younger singles would rather rent or purchase smaller properties with fewer facilities in order to use their funds in a different way. “For a lot of [single young people], the only time they spend at home is sleeping time,” said Phibbs.
