Issue link: https://viewer.e-digitaleditions.com/i/222315
NEWS Upside of downsizing In America they're known as 'micro lofts' or 'aPodments.' A growing trend to live in smaller apartments, or 'micro apartments', could be heading for Australia. These apartments can be as small as 50sqm and are ideal for those wishing to sacrifice space for an inner-city lifestyle. Adam Zuchowski, a Senior Associate with Slater & Gordon, told www.realestate.com.au that despite their size, micro apartments were already popular in cities such as New York, Singapore, Tokyo and London due to their inner-city proximity and affordability. "It's easy to see how both of these factors would appeal to a Generation Y audience," Zuchowski reported. "Recent research conducted by Slater & Gordon's Conveyancing Works supports this theory, with 18–24-year-olds listing proximity to the CBD as their priority when looking for real estate." Source: www.realestate.com.au Gen Y women lead the way Generation Y women are more focused on getting into the property market and paying off their mortgage than their male counterparts, the 'Westpac Home Ownership Report' revealed. It found 87 per cent of savvy women aged 18 to 34 listed property-related goals as a priority in life compared with 79 per cent of males. The report also found Gen Y women lead the way when it comes to property knowledge with 81 per cent of females knowing what a variable rate is versus 60 per cent of Gen Y males. Source: 'Westpac Home Ownership Report', September 2013 Did you know ... ? $9000 The price, per square metre, the Sydney Pitt Street Mall averages in rent, the highest yield in the country. Melbourne's Bourke Street Mall comes in second at $7000/sqm; third is Brisbane's Queen Street Mall at $4463/sqm. Source: Colliers International Did you know ... ? $300m The approximate total sale value of the first instalment of Barangaroo's residential apartments. The 159 units, with a starting price of $1 million for a onebedroom, sold out within 3.5 hours on 31 August. More than 6200 buyers had registered interest. Source: Australian Financial Review Property • Issue 1 5