Apartment-style houses, lifestyle locales: The properties that prestige downsizers are hunting this year

The hunt for a more relaxed lifestyle in vibrant areas close to water or with great views has kicked off in earnest among downsizers in the prestige market, with demand now often outstripping supply.

Agents report that, with the average Baby Boomer turning 64 this year and many in the market in good health and wealth, they’re often looking at smaller houses, luxury apartments or, even better, houses with the design features and convenience of apartments – but without the hassles of an owners corporation.

“We’re noticing that if we can give downsizers a house that offers apartment-style living, then we have a huge amount of interest,” says Ben Collier, partner at Sydney’s The Agency.

All around Australia the search is now on for good downsizing properties and, with prestige buyers least affected by the credit squeeze, the market is buoyant.

Ross Savas of Kay & Burton is seeing many in Melbourne looking for single-level houses or apartments in South Yarra, Toorak, Hawthorn and Brighton. “Many people in this market have multiple homes, maybe in London, New York, Flinders, Portsea, Byron Bay … ,” he says. “But they’re now looking for lifestyle, low maintenance and to enjoy life.”

On the Gold Coast, Michael Kollosche of Kollosche Prestige Agents says many people are selling out of riverfront mansions and seeking low-maintenance homes. “We haven’t seen that sector of the market this strong in years.”

On Sydney’s eastern beaches, McGrath agent Simon Exleton believes it’s all about lifestyle. “We’re seeing a lot of downsizers coming from big homes to the harbour and to beaches with lots of restaurants and cafes and where you can walk to everything,” he says.

Sydney’s inner west is also struggling to meet the demand. “Prestige downsizers are the one silver lining in a market that is otherwise pretty dire,” says Matt Hayson of Cobden & Hayson, who’s attracting a flood of downsizers with a four-bedroom house on Mort Street, Balmain, selling for around $4 million.

Three downsizer magnets

Rose Bay

The Agency’s Ben Collier is seeing intense interest in this impeccably stylish, three-level house, sitting on the harbour with views to the Opera House and Harbour Bridge.

Designed by Bruce Stafford and with interiors by Hare + Klein, it has open-plan interiors and full glazing – just like an apartment – but the dimensions and space of a house.

“This house [is] is future-proofed with lift access to each of the three levels, so stairs are never an issue,” says Collier, who is seeking offers of about $25 million through an expressions of interest campaign.

South Yarra

This whole-floor apartment with a 25-metre lap pool and a private, wraparound terrace has the feel of a luxury house with the convenience of an apartment.

In a boutique block of three beside the Yarra River, the spread is a short walk to South Yarra village and parks.

WHITEFOX Real Estate agent Marty Fox advises on a $3.2 million to $3.52 million price guide.

Surfers Paradise

From its perch on Level 64 of the Peppers Soul building, this sub penthouse is a spectacle of double-height ceilings and glass.

While the view from the balcony may be hard to leave, an elevator ride down will take you down to Surfers Paradise’s buzzing shopping scene.

Rob Patis of Mantra Group Realty has the listing.