New builds in the Canberra inner suburbs attracting downsizers

“Downsizers” generally represent that coterie of Baby Boomers who have suddenly found themselves as empty nesters with too much land, space and maintenance on their hands.

This combination ignites a flight to a new lifestyle, often characterised by single level, indoor-outdoor living and the ability to lock up and leave at whim.

Maree van Arkel, of McGrath Dickson, says location still remains the number one priority.

“People want to move to areas that enjoy strong local amenities – like proximity to shops, cafes and restaurants,” she says.

“Fortunately, a number of options around the inner city have sprung up in recent years.”

Van Arkel says boutique developments in O’Connor had proved popular.

“It’s an established, leafy area with a strong sense of community,” she says.

“That’s important to downsizers, the inner suburbs offer access to everything.”

Downsizers typically consider properties up to around $1 million but would push higher for the right option, she says.

Debbie Maddigan, of Peter Blackshaw Manuka, says apartments, terraces, dual occupancies and townhouses are all viable options for downsizers.

“Certainly, location is a strong driver in their choice, as is proximity to family,” she says.

“Many want to have all their living on one level with upstairs reserved for visitors.”

Maddigan says buyers showed a strong preference for new builds or dwellings that were fully renovated.

“They’re not usually looking for a project; they’re after a relaxed lifestyle,” she says.

Maddigan, who has a strong Campbell focus, says she finds a lot of downsizer interest in the $800,000-$1 million price bracket.

DOWNSIZING DECODED

• Location. As with most real estate decisions, location is a main driver for downsizers with several determining factors including a preference for established suburbs and proximity to shops, cafes and dining options.
• Lifestyle. Usually a non-negotiable item for downsizers is single-level living. They’re happy to consider a townhouse with a master bedroom on the ground floor and reserve the upper level for guests.
• Low maintenance. Downsizers have done the hard yards and now they’re looking to spend more time enjoying themselves in a lock up and leave lifestyle rather than maintaining a garden or an ageing house.

CAMPBELL

38/1 PROVAN STREET

PRICE GUIDE: $775,000 +

Campbell 5 offers a new world of residential living, but its apartment developments draw on inspiration from old-world classics that have proved their enduring appeal.

The St Germain development draws on Parisian chic in the design of its apartments and offers residents the highest standards in contemporary living.

This deluxe, second-floor apartment is enhanced by beautiful views towards Hassett Park while offering maximum privacy from its elevated position.

And St Germain’s apartments wrap around a central courtyard that floods in natural light and further enhances the outdoor connection.

This open-plan apartment offers spacious living with herringbone parquetry underfoot leading to a chef’s kitchen with marble benchtops and high-quality appliances.

There are two bedrooms and two marble-tiled bathrooms. The master bedroom has access to its own balcony to further enjoy the views.

Ducted reverse-cycle heating and cooling provides year-round comfort while the apartment also enjoys two car parking bays.

CAMPBELL 38/1 PROVAN STREET Photo: Peter Blackshaw Manuka

This is a residence that will have strong appeal to downsizers looking for single-level, low-maintenance living with a touch of luxury.

And, of course, one of Campbell’s greatest assets is its location. It’s within walking distance to Lake Burley Griffin, the city, cafes and dining options.

Aside from St Germain, the New York-inspired Greenwich Park has also been completed. Koben, which draws on a Scandinavian theme, is under way and the Italian-themed Siena is currently being marketed.

AGENT: Peter Blackshaw Manuka, Debbie Maddigan 0413 621 131

AUCTION: 9am on April 7