It seems there is a pattern in terms of suburban migration. So much of that comes down to space. Our ambivalence to it, or our need for it, and then the realization that we may have too much of it. This is, of course, largely connected to demographics and family size.
The CBD and high density inner city suburbs like The Valley, South Brisbane and Kangaroo Point are perfect for young couples or professional singles who crave the convenience of small commutes and cool bars and cafes to hang out in.
Trace these couples over a period of ten years, however, and you start to see the drift. Babies are born, grow and need to attend schools. As families grow, space is not only desired, but required. The ‘burbs are calling. Suddenly young hipsters are talking about lawn mowers, which school to enroll their kids and hanging out at Bunnings. Priorities are what force real estate migration.
Once those children grow, however and leave the nest (although statistics suggest this happens a lot later now with the average “child” leaving home in their early twenties), large homes and blocks are again unnecessary and the migration back to the CBD or inner suburbs begins again. Travel is easier from a small apartment in town, not to mention the cleaning and maintenance.
And so the cycle continues. One thing is for sure though, large family blocks will always be desired. As will apartment living. It’s an interesting demographic mix in the city and suburbs these days and never has it been more important than to strive to build community. Community life can exist in any form and we can form neighbourly relationships wherever we are. Life is a funny thing and the memories and friendships we make can transcend the norm. There are examples of community wherever we choose to dwell… Like the twenty-five year old guy who helps the seventy-eight year old with her groceries. Or the middle aged Mum who can give advice to the young family with toddlers about schools and the best pasta recipes.
Where we live makes a different to our happiness; Smart real estate choices are those that can fulfill our current needs while creating wealth for the future.
Life can be sweet in the city or the suburbs. Planning your real estate investments to coincide with lifestyle can make it even more so. Sometimes it’s just a matter of timing.