Property Market Trends Explained: Multigenerational Living

One long term effect of COVID-19 that we have examined recently is the major uptake in multiple generations choosing to live together in homes across Brisbane. In fact, a recent study confirmed that 25% of Australian households are now living with three generations under one roof.

Chances are, you’ve probably stumbled across the term ‘Multigenerational Living’ in the past few years – If you’re curious about the current trends influencing the Brisbane luxury housing market, and want to uncover the meaning behind this terminology, be sure to read along.

Defining Multigenerational Living

Multigenerational Living, by definition, is the cohabitation of multiple generations of a family all within one household. 

The cause? There may be many economic, cultural, and lifestyle shifts that have encouraged families to live together – but what you may not have considered, is how this is affecting the features expected of many luxury homes across Brisbane. 

Shifting Consumer Trends – What are Buyers Looking For?

Due to the growing need to accommodate several family members, luxury buyers are increasingly seeking properties that offer adaptability and utility. Not only will the perfect home provide ample space for both privacy and togetherness, but it will also feature versatile living areas and amenities that cater to the diverse needs of their family members. 

Whether this takes form in a granny flat, a guest suite, or the opportunity to build or renovate on existing property – this shift in consumer trends is not one to be ignored by homeowners across Brisbane.

Where in Brisbane is the Best to Buy a Multigenerational Home?

Ideally, luxury buyers in search of a multigenerational home will be on the hunt for a well-established, inner-city suburb – that is complete with an assortment of amenities and suited to the lifestyles of a variety of age groups. 

As such, it’s no surprise that leafy Ascot, serene Hamilton, and vibrant Hendra are among some of the most sought-after neighbourhoods in Brisbane for Multigenerational Living. These areas boast a blend of upscale residences that offer spaciousness, remain in close proximity to amenities, and foster a sense of community that appeals to families spanning over several generations.

Are you living in a luxury home, and pondering taking it to market? As indicated by trends in these areas, you won’t be short of demand! For a team that is well-versed and immersed within your local community, reach out to the Oliver Jonker team to get started on your next sale!