COVID-19 did not dampen our love of apartment living, report reveals

In fact, the research by the Australian Apartment Advocacy (AAA) reported that respondents’ satisfaction with their apartment lifestyle remained high despite several lockdowns, which saw millions confined to their homes for months on end.

Interestingly, 70 per cent of Australian apartment owners told AAA that they embrace apartment living and would recommend it to others.

“There’s a lot to recommend with apartment living so long as you choose wisely,” said CEO of AAA Sam Reece.

The figures did, however, reveal that several key factors do influence the purchase of an apartment as a result of the new COVID norm.

“COVID hit fast forward on a number of trends: pets, home office, business centres, amenities like pools and gyms and communal gardens,” said Ms Reece.

In fact, since the pandemic began, single people are more likely to seek a two-bedroom home, with many also demanding a pet-friendly environment.

Size does in fact matter, Aussies admitted, with many ranking a formal workspace as more important than ever before in their post-COVID apartment hunt.

Balconies are also valued for outdoor living, as are exterior spaces such as communal gardens, and views. The facilities that had the highest levels of usage were the grocery shop (usage rate of 66 per cent), outdoor pool (usage rate of 65 per cent), indoor pool (63 per cent), and café or restaurant (63 per cent).

The survey also identified business centres within complexes had grown in appeal as more workers opt for flexible working arrangements.

But seven factors that stood out for residents as more important than the rest included security, parking, location, affordability, low maintenance, proximity to the CBD and cost of living.

“Residents chose an apartment over other property types because it was easier to care for and maintain, it was the right size for what they needed and for its security. Investors mostly chose an apartment because it was easier to care for and maintain,” according to the report.

The key areas of dissatisfaction noted in the survey by apartment residents was the lack of storage and parking.