It is not uncommon these days, to see under utilised inner city precincts and commercially abandoned wharves converted to thriving café and retail sectors with hotels and boutique offices commercially underpinned by the residential community within.
These types of properties appeal to our current demographics. We are ageing like never before. The front-end baby boomers have tired of the three, four and five bedroom homes and are looking for a more convenient and interesting way to live. The redeveloped inner cities and docklands are their new spiritual home. The cafes, restaurants, art galleries and bookshops are their temples and there they worship in their droves.
Their children, if not still in the suburban home abandoned by their parents, are taking to the smaller and more affordable apartments in and around our cities and business districts. For them a cosmopolitan and busy lifestyle is as important but the issue of affordability affects them also. The traditional form of detached housing is not for them, at least at first because of this issue. Their time for the backyard and white picket fence, if they are so inclined, will be delayed as they marry and rear their children later in life. Meanwhile other strata dwellers; couples without children, and singles might stay with the concept and upgrade to new, bigger and better home units.